Don't worry, there is nothing wrong with your sense of geography. In January, the European Patent Office (EPO) and Cambodia signed an agreement that makes it possible to expand European patents to Cambodia.
European Patent Office ambitious
Cambodia is not the first country with which the EPO has signed such an agreement. Morocco, Moldavia and Tunisia also have a validation agreement with the EPO. The EPO has been trying to get European patents validated in countries outside the European member states for years. This new possibility is leading to improvements in the innovation and investment climate in the actual countries themselves.
Innovative companies
However, it also opens up opportunities for companies that wish to expand internationally and view Cambodia as an interesting market. The Asian country imports natural gas products, textiles, cars, wholesale yarn, cigarettes, electronic communications equipment and pharmaceutical products each year. The expansion of the European patent is particularly interesting for innovative companies that operate in these sectors, although patents on pharmaceutical products are still excluded.
More and more benefits for entrepreneurs
Worldwide, patent systems are becoming increasingly integrated. This is not only convenient, but also saves money. The fact that not everyone is aware of this means that not all opportunities are being fully utilized.
The agreement with Cambodia will come into force once the national legislation has been amended, which is likely to be in July 2017.
