Financial instruments to promote the registration of Peruvian patents

By Espinosa Bellido Abogados

Peru’s National Intellectual Property Office (Indecopi) and the governing public body of science, technology and innovation (Concytec) have agreed to implement financial instruments to promote the registration of Peruvian patents.

Such economic funds will be the first mechanisms of its kind in Peru, aimed at increasing the protection of national intellectual property, enhancing the possibilities of commercialization of technologies developed in the country, both in the local and international market.

Up to 28 projects will be financed, covering items such as registration fees, specialized translation services and preparation of patent applications, among others.

The evaluation of the postulated projects will include a technical analysis of patentability by the National Institute for the Defense of Competition and the Protection of Intellectual Property (Indecopi) that will estimate its novelty and inventive level or technical advantage. This evaluation is expected to be a powerful first filter that increases the chances that the selected proposals will obtain a patent.

The beneficiaries will operate under the Patent Cooperation Treaty (PCT), which assists applicants in seeking patent protection internationally for their inventions: by filing one international patent application under the PCT, applicants can simultaneously seek protection for an invention in a very large number of countries.