Sri Lankan businesses go through a lengthy and costly process to register their trademarks abroad. As a solution, the Government of Sri Lanka decided to join the Madrid Protocol. This is a centralised global system that simplifies the process Sri Lankan businesses go through when registering trademarks abroad.
However, a study by Verité Research found that Sri Lanka’s ability to benefit from the Madrid Protocol is hobbled by the delays in local trademark registration. Despite the significant growth in resident trademark applications during the last decade, the number of trademarks registered a year have stagnated. Verité held a press briefing to reveal the findings of this study.
Read full study here