The Ministry of Economy in Libya recently issued a decree outlining updated requirements for trade mark renewals.
Upon renewal, trade mark proprietors are now required to submit a financial statement acknowledging that the trade mark is an intangible asset, including its valuation. While clarity is being sought on the exact amount, the renewal fees have also increased substantially.
In addition, a new decision has been made regarding trade mark applications filed in 2024. All acceptance notices issued during the closure of the Trademark Office (from 2 April 2024 to 1 September 2024) have been withdrawn. Further, all appeals of trade mark applications that were refused on the basis of being identical or confusingly similar to marks filed during the office closure period, have been accepted.
The situation at the Libyan Trademark Office is ongoing. We will continue to monitor and report developments as they arise.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
