Fund to protect 'historic brands' receives initial contribution of 100 million euros
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Italy's Council of Ministers has approved a decree establishing a fund of at least 100 million euros to protect the country's “historical landmarks”.
The measure is part of the so-called “Growth Decree”, a package of actions to reactivate the Italian economy, and was endorsed by the government last week. As it is a decree-law, the initiative comes into force immediately as a provisional measure, and Parliament will have to vote on it within 60 days.
From now on, the Italian Patent Office, linked to the Ministry of Economic Development, will have a special registration for historical brands, that is, those with more than 50 years of existence.
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Registration in this register will be at the request of the company owner or on the initiative of the government itself, if the company demonstrates its intention to close its factory. The measure was created amid the crisis at the traditional chocolate brand Pernigotti, founded in 1868 and whose factory in Novi Ligure, in Piedmont, is at risk of closing its doors.
The decree obliges “historic brands” to inform the government of any closure of activities. In this way, the Ministry of Economic Development will try to look for a buyer or identify alternatives to guarantee jobs and the use of the brand.
Anyone who violates this rule will be subject to fines of up to 3% of revenue. The government will also be responsible for managing the fund created to protect these companies, which will have an initial capital of 100 million euros.
Made in Italy
The “Growth Decree” also establishes the creation of a “made in Italy” seal aimed specifically at Italian products sold abroad.
The objective is to combat items from other countries that try to emulate a false connection with Italy. The seal will be optional and payable.
By Ansa Agency
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