The final session of the draft law on the Economic Circulation of Intellectual Property is planned to be held by the Parliamentary Standing Committee on Justice on January 21, 2019. To deliver the brief introduction the draft law has 5 chapters, each of which regulates the following issues:  

• Chapter one regulates the common grounds, the purpose of the law, definitions of the terms, and the principle and protection of intellectual property.
• Chapter two regulates the sovereignty of the government member overseeing the issue of intellectual property, the National Council of Intellectual Property, the organizational structure of intellectual property, its functions, inspector of intellectual property, and rights and obligations of experts.
• Chapter three regulates the rights and obligations of the authorized representative, the managing corporate body, the rights and obligations of authorized individuals carrying out intermediary activities on intellectual property rights.
• Chapter four regulates the procedure of economic circulation of intellectual property, the evaluation of intellectual property rights, and the nature of state support for the economic circulation of intellectual property.
• Chapter five regulates the intellectual property database, service fees of intellectual property organizations, activities of the intellectual property dispute resolution board and coordination of other relations.

The adoption of the law shall have the following positive effects according to the concept paper: 

• Simpler economic circulation of intellectual property;
• More reliable evaluations and mediations of intellectual property;
• Opportunity for sustainable and routine activities of intellectual property organizations;
• More definitive state support.

Please click here for the full draft law.