MANILA, Philippines - The Joint Foreign Chambers (JFC) of the Philippines expressed its support for the Philippines’ accession to the “Protocol Relating to the Madrid Agreement Concerning the International Registration of Marks” (Madrid Protocol) because it is the cheapest way to register trademark in various countries.
In a statement, JFC said that the Philippines accession to the Madrid Protocol will allow its members to seek protection for their trademarks in 85 countries, including the United States, Australia, Japan, Korea, Singapore, the European Union, by filing a single application directly with the Intellectual Property Office of the Philippines.
The Madrid Protocol is important to the members of the JFC because it provides a flexible, timely, and cost-effective mechanism that facilitates trademark registration in various countries.
In addition, the protocol simplifies the management of registered marks by providing a simple and efficient procedure for renewals, changes in ownership, and other recordation.
For JFC members, managing their trademark portfolio worldwide will become faster, easier, and less expensive. This means greater economic benefit for JFC members.
The Madrid Protocol will also give foreign brands the incentive to invest in the Philippines by providing them with an efficient and transparent infrastructure to register their marks in the country. More investments translate into more jobs for Filipinos.
“We, therefore, urge the Philippine government to accede to the Madrid Protocol at the soonest time possible. We likewise enjoin the Intellectual Property Office of the Philippines to immediately implement the Madrid Protocol once the accession process is completed by the Philippine government in 2011,” the group said.