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Intellectual Property Bulletin

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COLOMBIA

NEW DECREE ON INVESTMENT OF FOREIGN CAPITAL OVER INTANGIBLE ASSETS

The Colombian Government issued Decree 119 of 2017, through which the foreign capital investment regime (formerly contained in Decree 1068 of 2015) was modified.

 

The new Decree establishes that investment in foreign capitals shall be deemed to be those made over intangible assets, i.e. trademarks, patents, plant varieties or works protected by copyright, acquired with the purpose of obtaining an economic benefit for the country.

Intangible assets must have been obtained by persons not resident in Colombia, which means, those natural or legal persons whose principal domicile is not the country, or natural persons who do not stay in the country for more than 183 days a year. It is also established that the acquisition of the assets should have been obtained through any legal act.