Historic win for businesses: Parliament passes Trademark Bill unanimously

The Minister of Economic Development and Trade, Mohamed Saeed, today stated the unanimous passing of the Trademark Bill by the People's Majlis a "historic success for the Maldivian business sector."

The bill, proposed by the government to protect and secure trademarks and related rights, was passed with the unified support of all 63 members present at the Parliament's sitting.

In a social media post, Minister Saeed emphasized that the new legislation is a crucial step towards President Dr. Mohamed Muizzu's vision of establishing an environment built on the confidence of producers, businesspersons, and investors through robust intellectual property (IP) protection.

"The Trademark Bill passed by the People's Majlis today is a historic success for the business sector of the Maldives! Due to this law, for the first time, both local and foreign trademarks can be registered and protected in the Maldives. This will strengthen the protection of intellectual property rights, paving the way for increased investor interest in the Maldives."

He highlighted that the law guarantees the exclusive rights of trademark owners over their goods or services, making the authenticity of products easily verifiable for consumers. Furthermore, the legislation addresses fraud by stopping the misuse of registered trademarks in a misleading manner and, crucially, establishes counterfeiting as a criminal offense.

Once the bill is ratified by President Muizzu, the law will allow for the registration of standard trademarks, as well as Certification Marks and Collective Marks, further enhancing IP protection in the country.