Article 54 Intellectual, industrial and commercial property protection

1. Pursuant to the provisions of this Article and Annex 10, the Parties confirm the importance they attach to ensure adequate and effective protection and enforcement of intellectual, industrial and commercial property rights.

2. The Parties confirm the importance they attach to the obligations arising from the following multilateral conventions:

- Paris Convention for the protection of industrial property (Stockholm Act, 1967 and amended in 1979),

- Madrid Agreement concerning the international registration of marks (Stockholm Act, 1967, and amended in 1979),

- Nice Agreement concerning the international classification of goods and services for the purposes of the registration of marks (Geneva, 1977, and amended in 1979),

- Budapest Treaty on the international recognition of the deposit of microorganisms for the purposes of patent procedure (1977, modified in 1980),

- Patent Cooperation Treaty (Washington 1970, amended and modified in 1979 and 1984),

- Protocol relating to the Madrid Agreement concerning the international registration of marks (Madrid, 1989).

3. The implementation of the provisions of this Article and Annex 10 shall be regularly reviewed by the Parties in accordance with Article 90. If problems in the area of intellectual, industrial and commercial property affecting trading conditions were to occur, urgent consultations shall be undertaken, at the request of either Party, with a view to reaching mutually satisfactory solutions.