Latin America

One more year comes, and it is already 26 April, also known as the Intellectual Property day, as established by the World Intellectual Property Organisation (WIPO) two decades ago. This year, under the motto “IP & SMEs: Taking your ideas to market”, WIPO asked all involved parties to shine a light on the critical role of small and medium-sized enterprises (SMEs) in the economy and how they can use intellectual property (IP) rights to build stronger, more competitive and resilient businesses.

According to the European Intellectual Property Office (EUIPO), SMEs represent 99 % of all companies in the EU. Being a key element of the European economy, in the last 8 years they have created almost 85 % of new jobs and, overall, two thirds of total private sector employment in the EU.

Successfully protecting and promoting geographical indications (GIs) – best practices were shared by important institutions and representatives of various GIs from Europe and Latin America at a webinar hosted by IP Key LA.

On 16 March, the EUIPO held a meeting to introduce the SME initiatives to the six Latin American countries that have a memorandum of understanding with the EUIPO.

Geographical names, appellations of origin or traditional designations relate to products with specific qualities or characteristics that originate in the geographical environment in which they are produced.

The economic rationale behind geographical indications (GIs) is that their value is reliant on product specificity, constructed on the bond with the geographical territory, and dependent on plural factors that make up the product’s final and unique characteristics which allow consumers to differentiate between them.