Cyprus races to implement IP laws to EU standards ahead of approaching deadline

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The Cyprus House commerce committee discussed the submission of important bills regarding EU Intellectual Property legislation, a requirement that Cyprus must comply with before June this year or face a fine. The new bill will clarify who can receive copyright payments and how much they are entitled to receive respectively. They propose that a body with more authority that will monitor all companies in order to make the system more stringent. The main criticism of the current system is the delay in filing the copyright bills, the Committee’s Members recounted.