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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...

PATENTS – KINDS OF PATENTS Introduction : At present, Patent are granted for invention under patent Act 1970 and patent Rules 1972. The patent bill has been passed by both the Houses of Parliament received the President’s assent on 19th September 1970. It came on the Statue book as THE PATENT Act, 1970, and the act came into forces on 20th April, 1972. Patent : Under section 2 (1)(m) of Patent Act, 1970, “a patent means a patent for any invention granted under this Act,” in general terms, a patent is an exclusive monopoly right granted to the inventor (patentee) to make, use, license or sell the invention for a limited period of time. After the expiry of the patent term, anybody from the public can use the invention as it passes into public domain. Requirements of patent: As per Patents Act, 1970, an invention should satisfy following test to get ‘Patent’: 1. Test of novelty: It means that the subject should be new. 2. Test of utility: It means that it should be useful. 3...

TRADEMARK  Trademarks are an integrated component of modern business. A trademark is a symbol which indicates the source of particular goods. Trademark means “a mark capable of being represented graphically and which is capable of distinguishing the goods or services of one person from those of others. Marks include brand, heading, label, name, signature, word, letter, numeral, packaging or combination of colours etc. In simple words, a trademark is an identification symbol which enables the public to identify goods and services and distinguish them from similar goods and services. Definitions (Section – 2): Important definition of Trade Mark Act, 1999. 1. Assignment: Assignment means an act of the party concerned that the assignment must be in writings. 2. Associated trademarks: Trademark deemed to be or required to be registered as associated trademarks. 3. Certification trademark: It means a mark capable of distinguishing the goods or services in connection with wh...