HSM IP LTD
Cayman Trade Mark Spotlight: Cayman National Corporation Ltd.
HSM IP is a specialist intellectual property law practice based in the Cayman Islands and protects creative works (trade marks, patents, copyright, designs and domain names) throughout the Caribbean and Latin America. Kate Cleary, an Intellectual Property Manager at HSM Read more +
HSM IP Reception to Celebrate IPCA’s 10th Anniversary
This year, 2024, marked the 10th Anniversary of the Intellectual Property Caribbean Association (IPCA) which is incorporated in the Cayman Islands. HSM IP, a Founding Member, hosted a Reception in their Main Boardroom, on the evening of Friday, 8th November, Read more +
Bermuda’s Revamped Trade Marks Law to Take Effect on 1 February 2025
The Bermuda Registry General has announced that the much-anticipated new trade marks law, the Trade Marks Act 2023, will come into effect on 1 February 2025 and no longer on 1 January 2025 as originally anticipated. This Act replaces the Read more +
Empowering Creativity: How Cayman Island’s New IP Rules Will Support Domestic Entrepreneurs!
Good news for Caymanian brand owners! On 20 August 2024, the Cayman Islands Government announced its decision to amend the Trade Marks Act, 2016, and the Trade Mark Regulations, 2017, with the aim of making it more convenient and accessible Read more +
Empowering Creativity: How Cayman Island’s New IP Rules Will Support Domestic Entrepreneurs!
Good news for Caymanian brand owners! On 20 August 2024, the Cayman Islands Government announced its decision to amend the Trade Marks Act, 2016, and the Trade Mark Regulations, 2017, with the aim of making it more convenient and accessible for domestic entrepreneurs and creative individuals to protect their intellectual property.
This initiative is a positive step toward creating a more supportive regulatory environment, particularly for Micro[1] and Small Business[2] (MSB) owners. By making the process more affordable and user-friendly, the amendments are expected to encourage greater investment in and protection of invaluable intellectual property assets. The highlights being:
- Registration of IP without a registered agent: The existing act mandates all individuals and enterprises to seek assistance from an agent registered with the Cayman Islands Intellectual Property Office (CIIPO) to make any official submissions. The upcoming amendment will no longer require that they appoint a registered agent to file IP documents at the CIIPO. However, they can still choose to use an agent such as HSM IP to alleviate the administration burden and guide them through the process.
Waiver of Official Fees:
- Annual Fee: Under the current laws, all registered trade mark holders are required to pay an annual fee of CI$200 to maintain their trade mark rights and ensure they remain in good standing. It is anticipated more fees will be waived for Micro & Small Businesses.
As a prominent advocate and supporter of local enterprise, Huw Moses, Managing Partner of HSM IP, welcomes this proposal by Deputy Premier and Minister of Financial Services and Commerce, the Hon. André Ebanks MP for making intellectual property more convenient and accessible to all.
Huw is an appointed member of the Intellectual Property Working Group (IPWG), which assists the Cayman Islands Government with intellectual property guidance. HSM IP will be actively monitoring this legislative change and will be updating our clients accordingly.
[1] ‘Micro businesses’ are those that, among other conditions, employ up to four employees (excluding the owner), and have an annual gross revenue not exceeding CI$250,000 in the preceding fiscal year.
[2] Small businesses are those that, among other conditions, employ up to 12 employees (excluding the owner), and have an annual gross revenue not exceeding CI$750,000 in the preceding fiscal year.