Patent registration in the Cayman Islands. The Cayman Islands is a self-governing British Overseas Territory, the largest by population, in the western Caribbean Sea. The territory is considered a controversial major world offshore financial haven for international businesses and wealthy individuals, largely as a result of the state not charging taxes on any income earned or stored. Accordingly, many businesses want to enter this market and one of the most important preparations a business needs to take before expanding to Cayman is to learn the procedure of patent registration in the Cayman Islands.
Besides its common reputation as one of the premier offshore financial centers for hedge funds and other investment vehicles, Cayman is now trying to have another recognizing feature to show the world – IP.
Specifically, Cayman is trying to become a popular destination for IP migration and development. Businesses in areas related to innovation and technology can now be established in Cayman under the special rules of the Special Economic Zone (SEZ).
Patent in the Cayman Islands
Patent law in this jurisdiction is an extension of the UK patent law regime.
Under the current Patents and Trade Marks Law, an owner of a patent in the United Kingdom or European Union may apply to extend the protection scope of their patent to the Cayman Islands.
However, it should be noted that an application for registration cannot be based on a pending UK or EU patent application.
Convention priority cannot be claimed.
Necessary documents for patent registration in the Cayman Islands
The necessary documents for patent registration in the Cayman Islands include:
- The request to grant a patent (patent application);
- Detailed information on the applicant(s) including the applicant’s and inventor’s names, addresses, citizenships, etc.;
- A description of the invention;
- A signed and stamped power of attorney by the applicant(s);
- A copy of the amendments (if any);
- Priority documents (if any).
- Other required documents.
Nonetheless, as a patent in the Cayman Islands can be the extension of an already registered patent in the UK or EU, the applicant or patentee can obtain patent protection in the Cayman Islands simply by providing the UK or Community registration number.
Maintain the patent validity period
Renewals are not due per se, but the Cayman Islands has a strict maintenance fee tax, due for payment in January of each year.
Maintenance fees can be paid up until the 31st of March each year without a late fine.
However, failure to pay a maintenance fee by the 31st of March each year will result in the protected rights being held in abeyance until the annual fee and the penalty fee have been paid in full.
Re-registration patents expire upon the expiration of their corresponding parent EP (UK) patent.
The anti-patent trolling provisions
In Cameroon, the Patents Law contains anti-patent trolling provisions.
The anti-patent trolling provisions are designed to prevent abusive actions committed by patent trolls.
The anti-patent trolling provisions of the Patent Law are designed to limit persons from making “an assertion of patent infringement in bad faith”.
Besides the general prohibition on such bad-faith assertions, the Patent Law also contains a statutory remedy for those affected by the acts of patent trolls.
You can see a list of Cayman Islands IP firms here.