Cabinet has given approval for an increase in trade mark fees under the Trade Marks Rules 2001.
Speaking at Wednesdays' February 2 post-Cabinet press briefing at Jamaica House, Minister with responsibility for Information, Telecommunications and Special Projects, Hon. Daryl Vaz said there has not been an increase in trade mark fees since September 2001, and that the fees charged in Jamaica are among the lowest internationally.
"The Jamaica Intellectual Property Office (JIPO) is the statutory body which is responsible for administering all intellectual property laws and systems in Jamaica. Fees charged for registration of trademarks and other related processes concerning trademarks, constitutes 99.8 per cent of the total revenue of JIPO," the Minister informed.
He noted that the revenue generated is paid over to the Accountant General, but under its governing legislation, JIPO is allowed to retain a percentage of its revenue to cover operational costs.
Cabinet also approved drafting instructions to the Chief Parliamentary Counsel to effect the amendments to the Trade Marks Rules, 2001, accordingly.
CONTACT: ALECIA SMITH