Intellectual property is one of the most vital assets in Chile’s economy.
Chile has one of Latin America’s largest economies, and it has the largest number of trademarks registered in the world.
But the country has also been struggling with counterfeiting, corruption, and other ills, and many believe it’s time to rethink the country’s trademark laws.
To make matters worse, the number of trademark holders has dropped dramatically in recent years.
Chile was ranked No. 1 in the World Intellectual Property Organization’s World Intellectual property Report in 2010, but by 2020 the country was ranked 49th.
To make matters even worse, most Chileans are not registered as Intellectual Property Professionals (IPPs), meaning they can’t own a trademark.
So when the Chilean government decides to change its trademark laws, it needs to have a consensus of all stakeholders.
This article originally appeared on CNBC.com.
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