A new trademark bill has been introduced in the Parliament, proposing stringent penalties, including fines of up to MVR 2 million, for the manufacture, sale, import, or export of counterfeit goods.

The bill was tabled by Maduvvari MP Ahmed Zahir and aims to establish a comprehensive framework for the registration, protection, and enforcement of trademark rights in the country.

Under the proposed legislation, trademarks can be registered for an initial period of ten years, with the option to renew for an additional ten years. It outlines the rights of trademark owners and specifies the legal procedures to be followed in case of infringement.

The bill also empowers courts to issue interim orders to preserve evidence in trademark violation cases. A key provision is the prohibition of counterfeit goods, backed by penalties ranging from MVR 100,000 to MVR 2,000,000.

Once enacted and ratified by the President, existing trademarks must be re-registered within 12 months. Failure to do so will result in revocation of the trademark, according to the bill.