Accordingly, prudent investors must consult a local attorney to carefully verify property titles before purchasing land. Nicaragua's patent law is antiquated and lacks protection for computer programs, bio-patents, films, and music. Copyright protection dates from the 1904 Civil Code and is deficient in many respects, including failure to protect sound recordings, computer programs, and databases. Video piracy is common and trademark infringement remains a potential problem. Nicaragua and the U.S. are currently negotiating a bilateral IPR agreement, but progress has been slow.
Bribery is pervasive in many sectors.
In the meantime, businesses face some costs that are higher than their competitors in neighboring countries experience. For example, Nicaragua's inadequate ports force many exporters to truck their goods to ports in Honduras or Costa Rica. Major U.S. investors 9. The U.S. Department of Commerce has not published estimates of the stock of U.S. Direct Investment in Nicaragua since 1992. The 1991 estimate has 80 million dollars.