The PCT brings several advantages such as the following:
It facilitates the process of obtaining patents: By joining the Treaty, applicants will be able to access the patent application system through the Patent Cooperation Procedure (PCT), which allows them to, through a single application, protect their right in several countries.
Reduction of costs and resources: As only one single application is needed, the applicant will save costs in terms of time and money (i.e. professional and official fees) for multiple filings in different countries.
Increased commercial opportunity: Inventions coming from a country which is part of the Treaty have greater visibility at international level as being part PCT patent application system. In this way, the applicant can generate more commercialization and transnational cooperation opportunities for the Uruguayan trade. All this enhances innovation and generates a more favorable environment for competitiveness in the international arena.
In conclusion, the accession and ratification of the Patent Cooperation Treaty in Uruguay will have great benefits in terms of speeding up the patent application process, reducing costs, increasing commercial opportunities and promoting innovation and competitiveness in the country.
Lizeth Villamil
Associate
