On September 30th, Canada, the U.S. and Mexico reached an agreement in regards to the renegotiation of the North American Free Trade Agreement (NAFTA). The new United States-Mexico-Canada Agreement (USMCA) will have the following influence on Intellectual Property:
- The term of protection for new innovative drug products containing a medicinal ingredient not yet approved in Canada will increase to 10 years (from 8 years).
- The USMCA will allow for the term of a patent to be adjusted based on unnecessary or unreasonable delay in the processing of a patent application.
- Copyright protection will increase to be the life of the author plus 70 years (from life of the author plus 50 years).
For more information, please see the following: Chapter 20: Intellectual Property Rights
- Posted by Media
- 0 Comments