Cyprus - Andreas Neocleous & Co
Cyprus - Andreas Neocleous & Co
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)