Russia developing mechanism for temporary management of departed foreign companies' intellectual property rights - deputy PM

MOSCOW. March 4 (Interfax) - The Russian authorities are developing a mechanism that allows for the transfer of intellectual property of foreign companies that have left the local market for political reasons but continue to maintain the protection of their rights to be placed under management.

"Another important issue is related to foreign manufacturers from unfriendly countries that have ceased doing business in Russia but maintain their exclusive rights. Currently, the [Economic Development] Ministry and Rospatent are working on the issue of creating a mechanism for the temporary management of the intellectual property rights of such companies," Deputy Prime Minister Alexander Novak said at a meeting of the Rospatent board on Wednesday.

The temporary manager will "both ensure the protection of violated rights and issue licenses to manufacturers who will be able to make products needed by our market," he said.