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Osmania University B.com 1 st Year 2 nd Semester BUSINESS LAW Welcome to Learn At Ur Desk!  Business Law is a Discipline Specific Course (DSC-202) offered by Osmania University in B.Com First year of Second Semester and this syllabus is ineffective from 2019-2020 onwards so if you are a backlog student then refer the 2016-2017 syllabus here. The Course main Objective is to enable the students to  understand the basics of contract act, sales of goods act, IPRs and legal provisions applicable for the establishment, management and winding up of companies in India . Hence, any individual who is related to Business and Law will be benefitted from this course. Business Law IQ Lists Unit Wise Content (click on the links below to learn about the topic)                I.          Indian Contract Act of 1872 Topic 1: Elements of Contract ...

Business Law Important Topics  UNIT - 7:  ENVIRONMENT PROTECTION ACT 1986 ENVIRONMENT PROTECTION ACT 1986 Objectives and scope of the Act General powers of the central government for protection of the environment Prevention, control and abetment of environmental pollution Offences of penalties If you found this useful then share with others as sharing knowledge means gaining knowledge. If you have any doubt then use the comment section below. If you want to download this as study material, drop me a message in the below contact form and lastly if you want latest Accounting lessons, study materials, IQ lists and many more like this then subscribe my blog with your email and start your journey with Learn At Ur Desk. Units Related to B.Law: Click the below links for more details: INTRODUCTION TO THE CONTRACT ACT 1872 CONTRACT ACT 1872 part II  SALE OF GOODS ACT 1930 CONSUMER PROTECTION ACT 1986 INTELLECTUAL PROPERTY RI...

OFFENCES OF PENALTIES 1. Offence by an individual (Section 15): Whoever fails to comply with or contravenes any of the provisions of this Act, or the rules made or orders or directions issued thereunder, shall, in respect of each such failure or contravention, be punishable with imprisonment for a term which may extend to five years or with fine which may extend to one lakh rupees, or with both, and in case the failure or contravention continues, with additional fine which may extend to five thousand rupees for every day during which such failure or contravention continues after the conviction for the first such failure or contravention. If the failure or contravention, continues beyond a period of one year after the date of conviction, the offender shall be punishable with imprisonment for a term which may extend to seven years. 2. Offences by companies (Section 16): According to Section 16; if the offence is committed by a company, every person who was directly in charge of ...

PREVENTION, CONTROL AND ABETMENT OF ENVIRONMENTAL POLLUTION 1. Persons carrying on industry, operation, etc., not to allow emission or discharge of environmental pollutants in excess of the standards (Sec 7): No person carrying on any industry, operation or process shall discharge or emit or permit to be discharged or emitted any environmental pollutant in excess or such standards as may be prescribed. 2. Persons handling hazardous substances to comply with procedural safeguards (Sec 8): No person shall handle or cause to be handled any hazardous substance except in accordance with such procedure and after complying with such safeguards as may be prescribed. 3. Furnishing of information to authorities and agencies in certain cases (Sec 9): If discharge of any environmental pollutant is in excess of the prescribed standards, then the person responsible for such discharge or the person in charge of such place: a. Shall be bound to prevent or mitigate the environmental pollut...

GENERAL POWERS OF CENTRAL GOVERNMENT FOR PROTECTION OF ENVIRONMENT The environmental (Protection) Act has authorized the Central Government to frame rules for protecting and improving the quality of environment. In addition to this the Central Government is empowered to take all measures to prevent, control and abate environmental pollution. I. General Powers of the Central Government (Section 3):  Section 3 of the Act empowers the Central Government to take all measures that it thinks necessary for protecting and improving the quality of the environment and preventing, controlling and abating environmental pollution.  Measure to protect environment and prevent Pollution: Under these general powers, the central government may frame measures U/S 3(2) to fulfill its objectives of protecting environment and preventing environment pollution. Such measures may include measures with respect to all or any of the following matters, namely 1. Coordinate with other aut...

 ENVIRONMENT PROTECTION ACT An Act to provide for the protection and improvement of environment and for matters connected therewith. WHEREAS decisions were taken at the United Nations Conference on the Human Environment held at Stockholm in June, 1972, in which India participated, to take appropriate steps for the protection and improvement of human environment; AND WHEREAS it is considered necessary further to implement the decisions aforesaid in so far as they relate to the protection and improvement of environment and the prevention of hazards to human beings, other living creatures, plants and property; The Environment (Protection) Bill having been passed by the both Houses of the Parliament received the assent of the President on 23rd May 1986. It came into force on 10-11-1986 as THE ENVIRONMENT(PROTECTION)ACT, 1986 (29 of 1986) 1. Short title, extent and commencement. (1) This Act may be called the Environment (Protection) Act, 1986. (2) It extends to the whole of ...

Business Law Important Topics  UNIT - 6:  INFORMATION TECHNOLOGY ACT 2000 INFORMATION TECHNOLOGY ACT, 2000 Objectives of IT Act 2000 Digital signature Electronic Governance Penalties and Adjudication If you found this useful then share with others as sharing knowledge means gaining knowledge. If you have any doubt then use the comment section below. If you want to download this as study material, drop me a message in the below contact form and lastly if you want latest Accounting lessons, study materials, IQ lists and many more like this then subscribe my blog with your email and start your journey with Learn At Ur Desk. Units Related to B.Law: Click the below links for more details: INTRODUCTION TO THE CONTRACT ACT 1872 CONTRACT ACT 1872 part II  SALE OF GOODS ACT 1930 CONSUMER PROTECTION ACT 1986 INTELLECTUAL PROPERTY RIGHTS ENVIRONMENT PROTECTION ACT 1986

PENALTIES AND ADJUDICATION Chapter IX containing section 43 to 47 is important as it deals with penalties and adjudication Penalties for damage to computer, computer system etc. (Sec 43): Section 43 provides compensation not exceeding 1 core for damage caused to any computer network by introduction of computer virus, unauthorized access and other mischief. If any person without permission of the owner or any other person who is in charge of a computer, computer system or computer network does the following – a) Access to such computer, computer system or computer network; b) Download, copies or extracts any data; c) Introduce or cause to be introduced any computer contaminant or virus; d) Damages or causes to be damaged any data residing in such computer, computer system or computer network; e) Disrupt or cause disruption of any computer, computer system or computer network; f) Denies or causes the denial of access to any person authorized to access by any means; ...

ELECTRONIC GOVERNANCE The electronic governance is an equally issue in e-commerce. The sections 4-10 of the IT Act, 2000 provides for various rules that govern the transactions made electronically. E-Governance comprises of making rules and regulations to govern the electronically made transactions. The various rules are as follows: 1. Legal recognition to Electronic Record (Section 4): Section 4 of the Act gives recognition to electronic records and provides that where any law requires that any information or matter should be in the typewritten or printed form, then such requirement shall be deemed to be satisfied if such information is i) Rendered or made available in an electronic form and ii) Accessible so as to be usable for a subsequent reference. 2. Legal recognition to Electronic Signatures (Section 5): Section 5 is the main provision, which provides for the legal recognition of electronic/digital signatures as a substitute for handwritten signatures. It provid...

DIGITAL SIGNATURE “ Digital Signature means authentication of any electronic record by a subscriber by means of any electronic method or procedure in accordance with the provisions of section 3”.  U/S 2 (p) Section 3 of the IT Act, 2000 provides the conditions under which an electronic record may be authenticated by affixing digital signatures. The digital signatures have been recognized as a valid means to authenticate the electronic transactions made in the business world. The Information Amendment Bill, 2008 has changed the heading of the chapter from Digital Signature to “Electronic Signature”. The provisions of section 3 are given as under: 1. Subject to the provision of this section any subscriber may authenticate an electronic record by affixing his digital signature. (Sec. 3(1)) 2. The authentication of the electronic record shall be effected by the use of asymmetric crypto system and hash function which envelop and transform the initial electronic record into...

OBJECTIVES OF IT ACT 2000 There is no doubt that the technological changes have brought many benefits, but because of its low cost and ease of use, it has also brought with it certain disadvantages such as fraudulent scams, hacking, introducing viruses etc. around the globe. Hence, to facilitate e-commerce, the need for legal changes has become an urgent necessity. For this purpose, the Government of India enacted a new law in the year 2000 known as the Information Technology Act, 2000. IT Act 2000 is the Indian Cyberlaw. Information technology law governs the processing and dissemination of information electronically. These are paper laws for a paperless environment. These are technology-intensive laws to control and safeguard electronic transactions in the electronic medium. Objectives of the Act Cyberlaw is the field of law dealing with computers and internet including such issues as intellectual property rights, freedom of expression and free access to information. The pa...

Business Law Important Topics  UNIT - 5:  INTELLECTUAL PROPERTY RIGHTS TRADEMARKS ACT 1999 Trade Marks Act, 1999 Trade Marks – procedure for registration of Trade Mark PATENTS ACT 1970 Patents Act, 1970 Kinds of patents Procedure for granting a patent Rights of patentee COPYRIGHT ACT 1957 CopyRights Act, 1957 Copyright – registration of copyright Rights of Copyrights Terms of copyright Infringement of copyright OTHER INTELLECTUAL RIGHTS Trade secrets Geographical indications. If you found this useful then share with others as sharing knowledge means gaining knowledge. If you have any doubt then use the comment section below. If you want to download this as study material, drop me a message in the below contact form and lastly if you want latest Accounting lessons, study materials, IQ lists and many more like this then subscribe my blog with your email and start your journey with Learn At Ur Desk. Units Related to B.La...

TRADE SECRETS A Trade secret is a formula, practice, process, design, instrument, pattern, commercial method or compilation of information not generally known by others by which a business can obtain an economic advantage over competitors or customer. In some jurisdiction, trade secret is referred to as confidential information. The precise language by which a trade secret is defined varies by jurisdiction, as do the particular types of information that are subject to trade secret protection. Three factors are common to all such definition: A trade secret is an information that i) Is not generally known to the public ii) Confers economic benefit on its holder because the information is not publicly known and iii) Is the subject of reasonable efforts by the holder to maintain its secrecy. GEOGRAPHICAL INDICATIONS. Geographical indications in relation to goods help consumer to identify the place of origin of the goods and thereby the quality, reputation and other disti...

TERMS OF COPYRIGHT 1. In published literary, dramatic, musical and artistic work: Sixty years from the beginning of the calendar year next following the year in which the author dies. 2. In case of photography: The copyright shall subsist for 60 years from the beginning of the calendar year following the year of publication. 3. In case of cinematology films and sound recordings: Copyright shall subsist until 60 years form the beginning of the calendar year next following the year in which the film or the sound recording. INFRINGEMENT OF COPYRIGHT When without authorization from the owner of act or competent authority under the Act any act is carried out it constitutes infringement of copyright of the work. Copyright is infringed when any person a) Without a license does anything for which the exclusive right is by the Act conferred upon the owner of the copyright, b) Without license permits for profit any place to be used for the communication of the work to the pub...

RIGHTS OF COPY RIGHTS 1. Rights of Author (Sec 7): The author of a work has the right to claim authorship of the work as well as the right to restrain or claim damages in respect of any distortion, mutilation or modification or other act in relation to such work, which would be prejudicial in his honour or reputation. 2. Rights of the Owner (Sec. 58): All infringing copies of any work in which copyright subsists and all plates used for producing infringing copies shall be the property of the owner of the copyright, who may take proceedings for the recovery of possession or in respect of the conversion thereof. 3. Rights of Broadcasting Authorities (Sec 37): Every broadcasting organization shall have a special ‘broadcast reproduction right’ in respect of its broadcast, for 25 years. During continuance of the right no person should re-broadcast the programme in public or make a sound or visual recording of the broadcast or reproduce or sell or give on commercial rental such ...

COPY RIGHT – REGISTRATION OF COPYRIGHT Copy Right is an intellectual property. It gives the owner of work and exclusive right in respect of the reproduction publication, performance, communication to the public of the wok and enables the owner to derive financial benefit by excising such rights. Artisians, musicians and writers spends their whole life to create a master piece for the society in order to protect the hard work and skill of intellectual copy right act has been framed. Registration of copyrights: The provision relating to copyright registration are as follows. There shall be kept at the copyright office a register in the prescribed form to be called the Register of Copyright in which names, titles or work and address of author publishes and owner of copy right may be prescribed. (Sec 44) 1. Registration of copyright: Registration of copyright is optional. Copyright is registration with registrar of copyright by filling Form No. 4 prescribed for this purpose. The...

RIGHTS OF PATENTEE The purpose of applying for a patent is to seek an exclusive right to use the invention; the right to manufacture the invented product and market it. An inventor or patentee can exclude others from exercising such rights only when he files application for a patent and a patent is granted to him. Rights of patentee under the Act are: 1. Right to exploit the patent: Section 48 confers the right to exploit the patent on the patentee or his licensee or his assignee or his agent when such a right is exercised within the conditions imposed by section 47 of the Act. 2. Right to license: Section 70 of the Act, confers inter alia the right on a grantee or proprietor of a patent to grant license. For instance, a patentee of invention of new DVD system has a right to license his right to another party to make and sell the system in a particularly assign his patent and should be registered. 3. Right to assign: Section 70 also confers on the patentee the right to fully...

PROCEDURE FOR GRANTING PATENT the procedure for grant of patent involves a sequential process that begins from applying for the patents to getting the patents granted in your name. section 6 to section 54 of the patent Act, 1970 have framed rules for the procedure of grant of patents. 1. Application for Patents (Sec. 6 – 11): Application for patents deals with the following: i) Who can apply? ii) Where to apply? iii) Form of application? iv) Provision and complete specifications 2. Publication of Application (Sec. 11 A): After Application, next step is to publish it. Every patent application has to be published by the controller after 18 months of filling of the application. The purpose of making application for patent open to the public is to invite objections. 3. Examination of the application (Sec. 11B, 12): Every application has to make a written request for getting his patent application examined. However, such examination is taken up only if the applicant or...