Liberia Industry Property Office (LIPO) acting Officer-in- Change, Prince Decker, has lauded several business entities that turned out to register during the beginning of the new policy on industrial material.
Mr. Decker said, “This is the kind of strong ties that LIPO is looking forward to seeing from business communities in Liberia.”
Touching on the agenda to protect business entities from copyright infringement, the LIPO boss stressed the need for better working relationship from the business public.
“We are hopeful that with implementation of this and other subsequent policy papers, improvement will be made in doing Patent and Trademark business in Liberia,” he emphasized.
“This cannot be achieved without their involvement and cooperation,” Mr. Decker noted
He also said LIPO’s administration remains committed to protecting all business entities operating in Liberia from copyright infringement, explaining that these kinds of relationships continue.
“This new policy is built on confidence from stakeholders and copyright owners and is a safeguard for infringement against copyright holders,” he said.
“We look forward to seeing this partnership give a boost to the business community in order for us to be able to fast track and provide administrative punitive actions against infringers,” Mr Decker noted.
Mr. Decker has frowned on business owners yet to apply for a renewal of their industrial property material, including trademark, trade names, industrial designs and patents to enhance the administration of the industrial property system.
Quoting section 43 (4) (C) of the 2003 act that created LIPO, he said business entities yet to comply with this new regulation has a three-month period from a six-month deadline in order to renew their rights. Failure to do so would result in a denial of their industrial property rights in order to open the market for eligible business entities or individuals.
“Any business owner that fails to comply with this administrative instruction is in complete violation to the act that created the institution,” he said. “And it might result into sanctions, revocation or cancellation of trademark rights and fines of not less than US$500.00.
He said there is a surcharge of 50% for application of later renewal after the six-month deadline expires.