Final consensus on the TPP free trade agreement. (Trans-pacific Partnership)
On October 5th 2015, Mexico and its new 11 partners finalized the negotiations of the most ambitious free trade agreement ever. The member states of the agreement govern approximately 40% global trade and so this agreement has significant ramifications for many of the world’s businesses buying and selling goods and services abroad.
In addition to establishing rules around free trade and access to market between member nations, the agreement also elevates and standardizes intellectual property protection and includes important commitments in the labor, environmental and regulatory legal frameworks.
The agreement come into effect after the country by country ratification and implementation processes, but according to the high hierarchy of international treaties approved by the Mexican Senate, certainly, the TPP will have a positive impact in the entire intellectual property structure in Mexico. It is no secret that the framework for IP protection in Mexico has required urgent review for a long time now as it has been more than 20 years without important amendments in our law.
Our Partners, Alejandro Luna and Luis Schmidt have both been actively involved in the negotiation of the TPP on behalf of Pharma and Media industry organizations respectively.
Olivares will conduct an accurate review and analysis of the IP chapter and other related chapters and will provide you with opinions and expectations of the impact in the Mexican legal frame and the clients’ interests.