Amending trademark rights in Russia will open doors
The Federation Council in Russia is set to amend the Civil Code to grant equal rights to manufacturers who wish to use product images on their packaging. This will not only create wider opportunities for new brands, but will cause a shift in market trends among Russian consumers, claims research firm Canadean.
According to Izvestia, Russia’s Federation Council plans to amend the intellectual property protocol by protecting local producers against companies with registered trademarks using similar branding. Currently, manufacturers with exclusive trademark hold the right to refuse market entry to competitors’ products, demand to withdraw already produced goods and seek compensation for any damage done.
Canadean predicts that the new amendments, if acquired, will create better conditions for smaller businesses and new entrants, however, the number of companies taking inspiration from each other is set to increase and more consumers will shift from the original label to a different manufacturer.
