There have, for a long time, been calls to reform this British Overseas Territory’s century-old trademark laws.
These calls resulted in the recent release of the exposure draft of the Trade Marks Bill by the Financial Services Commission, which will be a major re-write of the trademark law.
More than 400,000 companies are registered in the British Virgin Islands (BVI), which also have major presences in China and other Asian markets, and the jurisdiction has won favour with many international bodies as the world’s corporate domicile of choice.
The need to protect brand perception is increasing as approximately 350,000 people visit the British Overseas Territory annually who, according to statistics from the World Tourism Organization, have positioned the BVI in the top 10 tourist markets in the Caribbean consistently over the last decade.
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British Virgin Islands,Trade Marks Bill, Nice Agreement, trademark registration