The industrial property rights are territorial. This means that there is not a patent, trademark or industrial design application that is simultaneously recognized in all the world. Nonetheless, there are international treaties such as the PCT (Patent Cooperation Treaty) that allows the conception of a type of international system of patents.
The PCT is an international treaty managed by the WIPO (Word Intellectual Property Organization), which allows that through a patent application presented in one country, it’s application date turns out valid in the member States of the treaty. The advantage of this is that there can be simultaneous patent applications in different countries of the world (at this moment, more than 150)
The main benefit of the simultaneous presentation of PCT is the economic and time relief for the applicant.
It should be noted that there has been an increase in the PCT applications. According to the WIPO, an increase of approximately 5.2% was generated between 2018 and 2019.
In Colombia, the PCT applications also increased: In the year 2020, 2000 applications were presented, 1700 of which were requested by international companies. Within them, 54% are from the chemical sector, within which specifically, pharmaceutical companies account for 24%.
In Pinzon Pinzon & Associates, we are noted for offering practical and timely solutions to our clients. Consequently, we are looking to become strategic allies of the pharmaceutical companies in the PCT requests and in all the juridical process that this entails: international search, submission of PCT applications, designation of Colombia as a country of interest, among others.