Common use of Intellectual Property Law Clause in Contracts

Intellectual Property Law. 1. The Contracting Parties shall ensure adequate and effective protection of intellectual property rights and shall promote efficiency and transparency in the administration of the Intellectual Property Protection System provided that such rights have been registered under the applicable national legislation. 2. In the event of failure to comply with the provisions set out in the preceding paragraph, the Parties shall notify each other and in case of prevalence, the Non-compliance will be remedied on the basis of national legislation.