Exporters are being urged to move quickly to protect their intellectual property before new trade mark legislation comes into force.
Two new bills have been passed under the Trade Marks Amendment Bill which are designed to cut compliance costs and crack down on counterfeit goods.
Baldwins Intellectual Property partner Philip Thoreau says the bill brings New Zealand into line with many countries through the Madrid Protocol.
But he warns that it will create a trade mark rush by big international corporations which could seriously inhibit growth of New Zealand companies.
Mr Thoreau says foreign businesses will be able to protect their trade marks in New Zealand much more easily than in the past.
He says that means New Zealand businesses will face significant costs in trying to protect their interests once the foreign entities have got their trade marks covered in New Zealand.
Mr Thoreau says the legislation makes it easier for New Zealand businesses to protect their trade marks internationally.
But he says the flipside is that New Zealand's trading partners, who are also members of the Madrid Protocol, will find it easier to protect their brands here.
He says the laws are likely to come into force by the middle of next year.
Mr Thoreau says it will cost businesses up to $600 to register their trade mark versus the huge cost of defending themselves against a multi-national if they don't register.
