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Cyprus - Andreas Neocleous & Co

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CYP/28<br />

INTERNATIONAL AGENCY AND DISTRIBUTION LAW<br />

Return of Stock, Publicity Material, Accounts, Books and Other Documents<br />

On termination of the agency the principal is entitled to have delivered up to him<br />

all documents concerning his affairs that have been prepared by the agent.<br />

In every case, it is necessary to decide whether the document in question came<br />

into existence for the purpose of the agency relationship or for some other<br />

purpose, for example, in pursuance of a duty to give professional advice. The<br />

Regulation of Relations Law and the <strong>Co</strong>ntract Law do not contain any specific<br />

provisions on this point.<br />

Agent's Rights in Principal's Bankruptcy<br />

The <strong>Co</strong>ntract Law provides that an agency may be terminated where the principal<br />

is declared bankrupt or insolvent under the provisions of any bankruptcy or<br />

insolvency law.<br />

The question whether the authority of an agent is revoked by his bankruptcy<br />

depends on the nature and terms of his employment. 38 The agent will rank with<br />

all other unsecured creditors.<br />

Principal's Property Held by Agent and Agent's Bankruptcy<br />

An agent's bankruptcy will not necessarily end the relationship. This will depend<br />

on the agency agreement and the individual circumstances of the case.<br />

The trustee in bankruptcy or receiver of the agent will not be entitled to property<br />

of the principal. No person may become a commercial agent if he has ever been<br />

declared bankrupt.<br />

Intellectual Property<br />

Domestic Law<br />

Statutory legislation and the general principles of common law regulate<br />

intellectual property in <strong>Cyprus</strong>.<br />

The most important statutes are:<br />

• The Patents Law (Law Number 16(I) 1998), as amended by Law Number<br />

21(I)/99, Law Number 153(I)/2000, Law Number 163(I)/2002 and Law<br />

Number 122(I)/2006 together with the relevant Patent Regulations of 1999<br />

and 2000 ("the Patents Law");<br />

• The Trade Marks Law Cap 268, as amended by Law Number 63/62, Law<br />

Number 69/71 and Law Number 206/90, Law Number 176(I)/2000, Law<br />

Number 121(I)2006 and Regulations of 1951 to1992 as amended ("the Trade<br />

Marks Law");<br />

38 Bowstead on Agency, 14th Edition, for example, re: Douglas exp. Showball, 1872.<br />

(Release 2 – 2013)

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