A draft law No. 479514-8 “On Amending Part 4 of the Russian Civil Code” (“draft law”) has been submitted to the State Duma for consideration, proposing to resolve the issue of the allocation and disposal of shares in exclusive rights.
The draft law is currently under preliminary consideration.
According to the explanatory note, the adoption of the draft law should resolve problematic issues related to the joint ownership of exclusive rights and make the process of using and disposing of intellectual property more flexible.
Under the text of the draft law, joint holders of an exclusive right will be able to conclude an agreement on the allocation of shares in it. As a rule, the shares are recognized as equal, unless otherwise provided for in the agreement. Furthermore, the shares in the exclusive right may also be determined by law and, in case of dispute, by a court.
The authors of the draft law note that the general approach to the regulation of the joint ownership of exclusive rights remains the same: if the shares are not allocated, any actions to dispose of the exclusive right will require the consent of all right holders.
Moreover, the draft law provides for the conditions that must be included in the agreement between right holders on the allocation of shares. Failure to comply with the written form of such an agreement entails its invalidity.
An agreement on the allocation of shares in respect of intellectual property subject to state registration and any actions with such shares (alienation, pledge, etc.) are also subject to state registration.