Australian companies are advised to spend time investigating the market, obtain professional advice where appropriate and thoroughly investigate the issues in entering the market and before establishing business relationships.
Australian firms wishing to operate in this market should commit to the highest level of corporate behaviour and familiarise themselves with Australia's laws and penalties pertaining to bribery of foreign officials.
Bribery of foreign public officials is a crime. Australian individuals and companies can be prosecuted in Australia for bribing foreign officials when overseas. Further information on the regulations governing bribery of foreign public officials is available.
For further information on frauds, scams, personal and asset security, intellectual property protection and other business risks please read more about legal issues.
Intellectual property protection
Colombia has developed a very strong intellectual property regime based on international standards for protection. In this regime, the use of a trademark does not confer exclusive rights over it and a proper registration is required to seek the relevant protection. An interested party can request cancellation of a trademark that has not been used for more than three consecutive years (Source: Procolombia, Legal Guide to Do Business in Colombia).