The governments of member-states of EAEU signed an Agreement on Collective Management of Copyright and (or) Related Rights on November 10th.
Collective management of these rights is carried out in cases where objects of intellectual property rights are used in mass media, performed in public places, etc.
The Agreement introduces a number of innovations for organizations on collective management of copyright. More specifically, it establishes: a limit for retention from remuneration collected by this organization; that the information on copyright holders and copyrights in possession of the managing company should be public; the provisions on mandatory audit and verification of the mechanism of collecting, distributing and paying remuneration.
The document also obliges the states to set liability in their national legislation for:
The Agreement should make the activity of the organizations providing collective management of copyright more transparent and provide control over the royalty distribution.
The Agreement will enter into force after all the member states bring their legislation in compliance with it and notify the EAEU depository of it.
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