Post by Sapphire Capital on Mar 2, 2018 1:56:21 GMT 4
Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) Agreement to be signed March 8, 2018
Key mechanical provisions
entry into force: will occur when at least six signatories or at least 50 percent of the signatories (whichever is smaller) notify their readiness withdrawal: any Party can withdraw from the Agreement by giving six months written notice accession: a simplified accession clause allows any state or customs territory to accede to the Agreement, subject to the terms and conditions agreed between it and the Parties, and authentic texts: there are English, French and Spanish versions of the text but if there were is any divergence between the texts the English will prevail.
The most significant of the suspended provisions are some of the more controversial aspects of the original TPP text, including:
Investment: the provision that would have allowed overseas investors to sue governments for breach of an investment agreement or an investment authorisation Intellectual property: requirements for countries to grant data exclusivity to manufacturers of biologics, extend patent terms in the event of unreasonable granting authority delays or unreasonable curtailment, extend copyright protection to 70 years after the author's death, and to take certain measures to protect against the circumvention of technological protection measures used by copyright owners to restrict the use of their material stored digitally Transparency: the provision in the Annex to the Transparency chapter that sets out certain "procedural fairness" obligations that would have applied to PHARMAC's operations.
General information only, this is no legal or financial advice or legal opinion and no solicitation or offering of services. Use of posted information should be contingent on your counsel advise on a case by case basis.