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Nationalization

By Emilia Diaz-Guijarro - 24/02/2011

On November 10, 2009, in accordance with Decree No. 7.035, published in the Venezuelan Official Gazette No. 39.303, the Venezuelan Government nationalized two coffee companies. One of them was Compañia Anónima Café Fama de América. The procedure took over all tangible and intangible goods and assets, including trademark its renowned brand “FAMA DE AMÉRICA”.

The main object of the nationalization was public utility. Thus it is difficult to understand the legal grounds for the expropriation of intangible assets such as a trademark based on their doctrine for public utility.

During 2009, after this situation, Longreef Investment, main partner of Compañía Anónima Café Fama de América sued the Venezuelan Government before the International Center for Settlement of Investment Disputes on the grounds of its failure to compensate them for the nationalized assets. However, to date no decision has been rendered by this Institution. 

By Emilia Diaz-Guijarro - 24/02/2011
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Hoet Peláez Castillo & Duque

HOET PELÁEZ CASTILLO & DUQUE, since its foundation, more than 70 years ago, has been devoted to its clients offering them high quality international legal services. As a result of these high quality standards, and complying with all its requirements, HPCD has been awarded the “COVENIN ISO 9001: 2008 Quality Certificate” by FONDONORMA, in the Intellectual Property process, becoming the only one Law Firm in Venezuela. HPCD’s partners and staff, in its continued effort to improve its services to clients and taking into account its commitment to them, has also tried to improve its online services, thereby enabling clients to handle and manage their own patent and trademark portfolios online and in real time using exclusive technology.