10/12/2007

European Union. The Parliament has approved the Proposal for a Regulation on the law applicable for contractual obligations (Rome I Regulation).

The adoption of a Regulation on the law applicable for contractual obligations (Rome I Regulation) is closer thanks to recent approval by the European Parliament. Now the Proposal will have to be discussed by the Council of Ministers.

The Rome I Regulation establishes a uniform body of conflict of law rules that will take the place of the Rome Convention of 1980 and will modernise some of its provisions. National courts of the Member States must apply these rules to determine the law applicable for international contracts, including licenses or assignments of intellectual property rights and RTD contracts. It is still not clear which law will apply to these contracts in cases where the parties have not reached a choice of law agreement.

Related Links:
European Parliament legislative resolution of 29 November 2007 on the proposal for a regulation of the European Parliament and of the Council on the law applicable to contractual obligations (Rome I)
Rome Convention on the the law applicable to contractual obligations (Consolidated version)
IPR Helpdesk document "Applicable law for international IP rights licensing contracts"

Related news item in IPR-Helpdesk:
2006/01/02. European Union. The Commission has published a proposal for a Regulation on the law applicable to contractual obligations