Important Facts about U.S. Sanctions on Russian Patent and Trademark Matters
Cantor Colburn Client Alert
Cantor Colburn offers important facts about U.S. sanctions on Russian patent and trademark matters in this client alert. In summary:
- There is a “Wind-down Period”, that ends on June 24, 2022, to complete financial transactions that are “ordinarily incident and necessary” to conduct day-to-day operations in Russia, e.g., paying fees related to securing and maintaining patents and trademarks.
- There is a prohibition against actions that are designed to circumvent the sanctions.
- Payments through third party payers are already becoming more complicated.
- Long-term business strategy in Russia must be evaluated.
During the wind-down period, it is imperative to update any international protection strategy that includes Russia. We will continue to monitor the situation and update you as appropriate.
Partner David Bomzer may be contacted for additional information or questions and as always please don’t hesitate to contact your Cantor Colburn attorney with any questions you may have regarding this matter and your IP in general.
DISCLAIMER: Please note that each situation has its own unique circumstances and ramifications. This Client Alert is for informational purposes only and is not legal advice.