The USTR analysis of Venezuela

By E.C.V. & ASOCIADOS

The Office of the United States Trade Representative (USTR) released its 2022 Special 301 Report on the adequacy and effectiveness of U.S. trading partners’ protection and enforcement of intellectual property (IP) rights.

“Intellectual property-intensive industries support more than 60 million jobs – from the independent inventor just starting out to the documentary filmmaker studying critical social issues. We need robust protection and enforcement in foreign countries to protect these individuals, their livelihoods, and ensure they can fairly compete in the global marketplaces,” Ambassador Katherine Tai said. 

The USTR highlighted Venezuela’s Autonomous Intellectual Property Service (SAPI) as it announced grants of several new patents in May 2021. In 2021, SAPI also waived various filing fees for small and medium enterprises to encourage use of the IP system. However, Venezuela remains on the Priority Watch List in 2022 and the United States has several ongoing concerns with respect to the country’s lack of adequate and effective intellectual property (IP) protection and enforcement.

Among them, Venezuela’s reinstatement several years ago of its 1955 Industrial Property Law, which falls below international standards and raises concerns about trade agreements and treaties that Venezuela subsequently ratified, has created significant uncertainty and deterred investments related to innovation and IP protection in recent years.