Trademark registration inquiries rise in Venezuela

Foreign companies have begun to renew their interest in Venezuela after years of little activity in inquiries about new investments and intellectual property registrations, according to the portal Bitácora Económica on its Instagram account.

At a meeting held with several of its lawyers in Bogotá, the international law firm Pérez-Llorca confirmed that since January the number of companies seeking to re-register their trademarks in the South American country has increased, including cases with filings pending since the 1990s. The corporate sectors with the most activity range from the oil industry to the automotive and telecommunications sectors.

Intellectual property allows companies to legally protect their names, logos and products against unfair competition, ensuring commercial exclusivity in the markets where they operate. The reactivation of these registrations is often an early indicator of the return of business operations to a nation after long periods of economic isolation.

According to Bitácora Económica, the high country risk premium makes credit more expensive and hinders the arrival of large-scale capital, but the dynamism in legal advisory work signals a shift in how foreign investors perceive the Venezuelan market.