On August 5, 2019, The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), though General License No. 27, expressly authorized certain economic transactions related to patents, trademarks, and copyrights in Venezuela, ensuring that IP-related activities remained permissible despite broader restrictions.
Such authorized transactions include the payment of fees to the United States government or the Venezuelan government and attorneys or representatives within the United States or Venezuela, in connection with the following:
- The filing and prosecution of any application to obtain a patent, trademark, copyright, or other form of intellectual property protection;
- The receipt of a patent, trademark, copyright, or other form of intellectual property protection;
- The renewal or maintenance of a patent, trademark, copyright, or other form of intellectual property protection; and
- The filing and prosecution of any opposition or infringement proceeding with respect to a patent, trademark, copyright, or other form of intellectual property protection, or the entrance of a defense to any such proceeding.
Transactions between US entities and individuals with the Venezuelan government or any property and interest in property of the Venezuelan government were otherwise prohibited under Executive Order (EO) 13884, also issued on August 5, 2019. The term “Government of Venezuela” was broadly defined under Section 6(d) of EO 13884 to include, amongst others, state government officials, political subdivisions, agencies, and entities or individuals owned or controlled by the Venezuelan government.
For companies looking to secure and maintain their IP rights in Venezuela, this exemption provides critical relief, allowing them to protect their innovations and brands in the country.