Main IP barriers when doing business in Latin America

Only less than 9 % of European small businesses own IP Rights1 and that is not because the other 91 % does not have any protectable IP, but mainly because they are not aware of the importance of IP to their business (neither the business opportunities nor the risk they are missing). Consequently, European SMEs fall too often into the error of believing that mere EU-based IPR registration protects them worldwide, or they take for granted that ownership is ensured. Also, they usually ignore the real costs involved in a proper protection or how and where to register, among others. As a result, they either adopt poor IP strategies or they directly prefer not to adopt them at all. EU SMEs that aim to operate in various Latin American countries may be disappointed if they intend to benefit from the advantages of a simple, centralised procedure for the protection of IP rights in several countries through a single international registration with effects in all designated countries.