Covid-19’s impact on registration and renewal of IP rights in Cyprus

Posted on 05 Aug 2020, by Agis Charalambous

The Intellectual and Industrial Property Section of the Department of the Registrar of Companies and Official Receiver has recently released the Intellectual Property Rights (‘IPRs’) statistics regarding the first half of 2020. Of particular importance are the registrations and renewal statistics as shown by the graphic representations below, which can also be found here.

Registrations of IPRs – 1st half of 2020

 

Industrial Designs:

Trademarks:  

Patents:

Total registrations (per IPR) in first half of 2020

4

1035

615

Total registrations (per IPR) for first 11 months of 2019

17

2131

1244

 

Renewals of IPRs – 1st half of 2020

 

Industrial Designs:

Trademarks:  

Patents:

Total renewals (per IPR) in first half of 2020

10

902

4397

Total renewals (per IPR) for first 11 months of 2019

13

1463

8074

 

On the basis of the above, the negative impact of the lockdown due to the global pandemic of COVID-19 on the registration and renewal of IP rights, particularly trademarks which could be seen as an indicator of the business activity in any given country, is evident. Nevertheless, the increase evidenced at the end of May 2020 is quite positive. This is further strengthened when comparing 2020 IP registration and renewal figures with those for 2019. The total registrations of Trademarks and Patents for the first half of 2020 are just under 50% of the total registrations of 2019. Interestingly, the total number of renewals in the first half of 2020 exceed 50% of the total number of renewals in 2019. Thus, if registration of IP rights is taken as an indicator of business activity, it is quite possible that business activity in Cyprus may indeed return to pre-pandemic levels faster than expected.

Michael Kyprianou & Co LLC has a leading Intellectual Property practice advising and assisting clients in relation to both contentious and non-contentious IP matters. If you need any advice in relation to Intellectual Property Rightsplease contact our Head of IP, Agis Charalambous, at agis.charalambous@kyprianou.com