The European Union Trademark Reform has been finally adopted. Inter alia, the reform will:
- Reduce renewal fees for EU trademarks by up to 37 percent;
- Allow trademark owners to seize counterfeit goods transiting through the EU;
- Harmonize certain aspects of substantive and procedural law. This includes new office-based opposition and cancellation actions and protection of trademarks with a reputation in all EU Member States;
- Harmonize rules of classification of goods and services and allow International Registrations designating the EU to be processed much more quickly;
- Open the door to the registration of more types of nontraditional trademarks (such as sounds, smells and tastes) by removing the requirement that a trademark be capable of graphic representation;
- Provide new governance rules for the Office for Harmonization in the Internal Market (OHIM), to be renamed the European Union Intellectual Property Office (EUIPO); and
- Create a new framework for cooperation between the EUIPO and national trademark offices in Member States for greater convergence of practices and standards.