The duration of each type of patent is different. The starting point of the duration of the Patent is the date of granting, not the application date:
- Invention Patent: 5- 10 years (upon request)
- Improvement Patent: 5 years
- Industrial model/ design: 5-10 years
This duration is not consistent with TRIPS agreement (20 years from the application date in case of patents and 10 years in case of industrial designs/models). Therefore, the time of protection is lower than in the TRIPS member states. This situation is expected to change by 31st July 2016, when the Mercosur harmonized framework is supposed to be fully implemented in Venezuela.