Among the features of the new law:
– the classification system will be based on the Nice Classification unless the Financial Services Commission decides to use another one,
– only a registered trademark agent can apply for the registration of a trademark,
– it will be possible to claim priority for a trademark already registered in a Paris Convention country or a World Trade Organization member,
– once a trademark is registered, the renewal period will be 10 years. However, if a trademark has been registered before commencement of the Act, its 7-year renewal period will be unchanged until expiration, and
– for marks not registered in the BVI, use of ® or the word “registered” without being able to show a valid registered certificate from another jurisdiction is subject to a fine.