New Procedure For Recording A Change Of Ownership

New Procedure For Recording A Change Of Ownership

On March 29, 1999 the Italian Patent and Trademark Office issued the communication No. 406 which amends articles No. 50 of the Italian Trademark law No. 929/42 and No. 67.2 of the Italian Patent law No. 1127/1939. Said articles relate to the recording procedure of the acts and deeds which change the ownership of Italian patents, trademarks, models and designs at the Italian Patent and Trademark Office. According to that amendment, before recording any foreign act and deed of ownership change at the Italian Patent and Trademark Office, the relevant original copy must be deposited with an Italian Notary Public who will issue a certified copy. Such a copy will then have to be filed at the Financial Office and, finally, sent to the Italian Patent and Trademark Office. Obviously, the deposit with the Notary Public will considerably increase the whole disbursement normally required in order to carry out the recording procedure.