2013 Blockbuster “Pacific Rim” made over $411 million at the box office. The anticipated sequel “Pacific Rim Uprising” is releasing in March 2018 (with lofty expectations). Alongside this release, nations on the pacific-rim (and some others) are preparing for the release of the sequel to the Trans-Pacific Partnership (minus the USA).
The Trans-Pacific Partnership trade deal (TPP) sought to permit signatories to export their goods to foreign markets, tariff free.
However, President Trump’s insistence on the United States of America getting a “good deal” saw negotiations break down. Nonetheless, the pacific nations struck back, devising a sequel to the TPP, to the exclusion of the United States of America.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will be formally signed in Chile on 8 March 2018. The CPTPP will become operational upon its ratification by six signatories.
As sequels are rarely better than the original, it will remain to be seen whether the CPTPP will indeed be “comprehensive and progressive”. Further, the USA might re-enter the fray, opening the door for further negotiations and a new batch of amendments.
The CPTPP is great news for Australian farmers and wine producers, giving greater incentives to export to Japan, Singapore, Mexico, Malaysia, New Zealand, Peru, Canada, Vietnam, and Brunei.
Where you look to export your goods to these foreign jurisdictions, it is essential to protect your name and brand. A trade mark registered and protected in Australia, will provide little recourse against counterfeiters in other markets. To ensure your brand is protected, you should register your brand as a trade mark in every applicable foreign jurisdiction.
The World Intellectual Property Organisation administers the “Madrid system for the international registration of marks”. The system, devised by treaty, provides a mechanism for trade mark owners to extend their trade mark protection to foreign jurisdictions.
Members of the system include Japan, Singapore, Mexico, New Zealand, Vietnam, and Brunei (signatories to the CPTPP).
If you wish to take advantage of the new CPTPP, and require assistance in protecting your brand overseas (or within Australia) do not hesitate to contact Iain Freeman, Cinzia Donald, or Andrew Sutton.
