Lawyer Monthly Magazine -December 2019 Edition

Trademark Registration Cost in Brazil The Brazilian Economy The economy of Brazil began spreading its wings through privatization initiatives that were launched in the 1990s. Over the next 20 years, the economy grew from its fledgling state by leaps and bounds, and even surpassed the United Kingdom at one stage to become the sixth largest economy in the world, with agriculture and the processing of foodstuffs accounting for “about a quarter of the Gross Domestic Product and 36% of exports.” This resulted in the nation being regarded as the gold standard for economic development in South America and Latin America. However, the country subsequently faced choppy economicwaters, which clipped the wings of growth, thereby bringing it to a shuddering halt. With a Gross Domestic Product of about US $1.87 Trillion, the Brazilian economy has slipped down the ranks and is currently the ninth largest in the world by nominal GDP. Alternately, it is the eighth largest in the world by Purchasing Power Parity. Brazil is a founding member of several prominent regional economic organisations and trade blocs, including “MERCOSUR” and “BRICS.” MERCOSUR is the fourth largest trading bloc in the world, With a strategic location at the heart of South America, Brazil covers about half of the continent’s land area, and shares borders with all the other countries on the continent, except Ecuador and Chile. In this article, we shall discuss and analyse the costs of brand protection (i.e., trademark filing and registration costs) in Brazil. after the European Union, the North American Free Trade Agreement, and the Association of Southeast Asian Nations (Hem Basnet and Gyan Pradhan; 2017). BRICS, on the other hand, has a combined Gross Domestic Product that is almost equal to that of the US (Colleen Goko and Rene Vollgraaff; 2018), and plays a very important role by “injecting dynamism into the world economy” (Financial Tribune; 2017). Beyond Coffee, Soccer, and Biodiversity Brazil might be known as the world’s largest coffee producer, the land of the megadiverse tropical rainforests in theAmazon basin, and the home of five-time soccer World Cup champions, but there is more to it than meets the eye. It is becoming an increasingly favoured destination for strategic Foreign Direct Investment and hotspot for Research and Development. As an example, Embraer, Brazil’s pioneering aviation giant, was featured in the Magazine of the World Intellectual Property Organisation in December 2017. Trademark Legislation in Brazil Trademark legislation in Brazil is governed by the Industrial Property Act (9,279/1996). The Brazilian Patent and Trademark Office, headquartered in Rio Di Janeiro, is the statutory body 44 WWW.LAWYER-MONTHLY.COM | DEC 2019 Special Feature By Anthony De Andrade, CEO Quantify IP, Venkatesh Viswanath and Bandita Panda Exchange Rate Used: 1 U.S. Dollar = 3.83 Brazilian Real Note: The estimates and fees depicted in this article are based on the Official Fee Schedules as of 25 June 2019