Thursday, 1 August 2013

MADRID PROTOCOL BECOMES EFFECTIVE IN INDIA

Making a significant progress in the area of Trademark Law, on April 8, 2013 India became the 90th member of Madrid Protocol which is effective in India from July 8, 2013 as per Information Notice No. 15/2013.

WHAT IS MADRID PROTOCOL

Madrid Protocol is a Treaty that provides for the International Registration of Trademarks by filing a Single Application in one language for ensuring registration in several countries. The Madrid Protocol, along with the International Treaty called the Madrid Agreement governs the Madrid System for the International Registration of Trademarks. The system is administered by the International Bureau of the World Intellectual Property Organization (WIPO), which maintains the International Register of Trademarks.

AMENDMENT OF TRADEMARK LAW (EFFECTIVE FROM JULY 8, 2013)

The Trade Marks (Amendment) Rules, 2013 introduces Chapter III A to the existing Trade Marks Rules, 2002 relating to 'Special Provisions for Protection of Trademarks through the International Registration under the Madrid Protocol'.

This comes as a cost effective step for any natural person or legal entity which has a real and effective industrial or commercial establishment in, or is domiciled in, or is a national of India and has got a registration of Trademark in India, as this system will allow an applicant to make an Online Application for the International Registration of Trademark under the Madrid Protocol.

This system is advantageous to an applicant as now an International Registration may be obtained by simply filing a single application with the International Bureau of the WIPO in a single language and on payment of single set of fees.

These advantages also exist for renewals and for recording of transactions.

Thus by making an Online Application, an Indian Applicant can make an application for registration of Trademark in as many as 89 countries apart from India and hence it implies that the Trademark owners can get their trademarks protected in the Indian jurisdiction as well as in the jurisdiction of the 89 other member countries through a single application.

The list of Contracting Parties to the Protocol can be found at http://www.wipo.int/treaties/en/ShowResults.jsp?lang=en&treaty_id=8

NEWS WRAP - JULY 8, 2013

  • FM confident of financing of Current Account Deficit this fiscal without drawing down Forex Reserves.
  • Petrol price hiked by 70 paise, Diesel by 50 per litre.
  • Rate of Interest Subsidy for exporters hiked from 2% to 3%.
  • Founder Shiv Nadar's daughter Roshni joins HCL Tech Board as a Non-Executive Director.
  • Gujarat Housing Board invites applications for Affordable Housing Schemes in Vadodara, Surat, Rajkot; applicants to get subsidy of up to Rs. 2 Lacs.
  • Chopper Deal : India receives Fresh Papers from Italy for Rs. 3600 crore VVIP Helicopter Deal.
  • Rail Coach maker Bombardier Transportation initiates legal inquiry against workers of its Savli Facility.
  • Zee Entertainment to launch a set of New Channels under brand '&', '& Pictures' to debut within a month.
  • CSR not just a Photo-op anymore, its driving Social Transformation: Debate at Inter Brand - The Economic Times 'Best Indian Brands'.
  • SEBI imposes a consolidated penalty of Rs. 1 crore on Golden Tobacco Limited for violation of Listing Agreement and other regulations.
  • Mundra Port overtakes Kandla Port to emerge as India's largest port by tonnage.
  • Indians among top Foreign Investors in Dubai Real Estate Market.
  • Spykar promoters in talks with private equity firm - India Value Fund Advisors (IVFA) to sell 15% stake.
  • ONGC Videsh's operations in Russia may have to pay for Sistema's Indian woes.
Source: Economic Times

Wednesday, 31 July 2013

NEWS WRAP - JULY 31, 2013

  • Search on for RBI Governor's Successor, reconstituted UPA-3 to assume power in 2014: P Chidambaram.
  • RBI Policy Review: Investors upset with no-action; no Rate Change, nor any Timeline for easing Liquidity.
  • Hindalco manages to refinance Rs. 4700 crore from SEBI and Axis Bank for its Utkal Alumina Project; banks agreed to cut rates by 300 bps for the Project.
  • BCCI Probe Panel 'Illegal and Unconstitutional': Bombay High Court.
  • Sahara Chief Subrata Roy should be punished for contempt: SEBI to Supreme Court.
  • Welspun Maxsteel pleads to RBI against 'Illegal' Imports from Iran.
  • Bank of India to buy Standard Chartered's Office space in Delhi for Rs. 125 crore.
  • Google launches 'Start Searching India' Campaign with an objective to help users in India.
  • Sheikhs fail miserably in Indian consumer Market due to operational issues and religious tenets.
  • SEBI seeks fresh details from Godrej Properties - Real Estate arm of Godrej Group for Company's proposed Rs. 700 crore Rights Issue.
  • Srei Infrastructure Finance Limited seeks SEBI Nod to raise up to Rs. 200 crore through NCDs.
  • Selling Las Vegas: Macau Gamblers lured to Sin City.
  • TVS Motor Company to launch two new bikes in Kenya in next two Quarters.
  • BSE to transfer 41 stocks to restricted Trading Category from August 2, 2013 as a measure to ensure Market Safety.
Source: Economic Times

Tuesday, 30 July 2013

THE SECURITIES LAWS (AMENDMENT) ORDINANCE, 2013

The President of India on 18th July promulgated The Securities Laws (Amendment) Ordinance, 2013 which has amended the Securities and Exchange Board of India Act 1992, the Securities Contracts (Regulations) Act, 1956 and the Depositories Act, 1996.
The said amendments shall come into force with immediate effect.

Major amendments in the Securities Laws are as follows:
  • Collective Investment Scheme:
Section 11AA has been amended which states that "any pooling of funds under any scheme or an arrangement, which is not registered with SEBI and involves a corpus amount of Rs. 100 crore or more shall be deemed to be a Collective Investment Scheme and as a consequence shall be barred from operation unless registered with SEBI."
  • Power to SEBI with Retrospective Effect:
The Ordinance 2013 by amending Section 11 has empowered SEBI to call for information or furnish information to other authorities in matters relating to violations in respect of Securities Laws whether Indian or Foreign. Provided that SEBI for the purpose of furnishing any information to any authority outside India, may enter into an arrangement or agreement or understanding with such authority with the prior approval of the Central Government.

This shall be with retrospective effect from March 6, 1998.
  • Transfer to IEPF:
Any amount disgorged pursuant to directions issued by SEBI under section 11B of SEBI Act 1992 or section 12A of SCRA, 1956 or Section 19 of the Depositories Act, 1996, as the case may be shall be credited to IEPF, for utilization in accordance with the regulations made under this Act.
  • Search and Seizure Powers to SEBI:
Search and Seizure powers have been granted to SEBI after amending Section11C(8) of the Act which pertains to any person or enterprise who, during the course of investigation, has omitted to provide information or would not provide information, or would destroy, mutilate information or documents.
  • Settlement of Administrative and Civil Proceedings:
The Securities Laws are amended by insertion of new Section 15JB  in SEBI Act 1992, Section 23JA in SCRA 1956 and 19-IA in Depositories Act, 1996 which allows any person against whom any proceeding has been initiated or may be initiated under certain sections to file an application to SEBI proposing a settlement of the proceedings initiated or to be initiated for alleged defaults. These sections have been inserted with retrospective effect from April 20, 2007.
  • Establishment of Special Courts:
Section 26A in SEBI Act, 1992 and SCRA and Section 22C of Depositories Act, 1996 has been inserted to allow constitution of Special Courts for speedy trial of offences. The Special Court so constituted shall consist of a single Judge appointed by the Central Government.

All such Offences whether committed before or after the passing of this ordinance shall be eligible to be tried by Special Courts. As per the transitional provisions, any offence committed under this Act, which is triable by Special Court shall, until a Special Court is established, be tried by a Court of Session exercising jurisdiction over the area. Any appeal against the order of such a Special Court shall lie with the High Court having jurisdiction over such court.

It has also been inserted that the provisions of Code of Criminal Procedure, 1973 shall be applicable to the proceedings before a Special Court.
  • Omission of provisions to appeal of consent orders to SAT:
Section 15T(2) of SEBI Act, 1992 has been omitted which prohibited any appeal from being made to SAT of any consent order.
  • Amendment to provisions pertaining to Cognizance of Offence by Courts:
Section 26(2) of SEBI Act, 1992 and SCRA and Section 22(2) of Depositories Act, 1996 has been omitted which prohibited any court inferior to that of a Court of Session to try offence punishable under these acts. 

NEWS WRAP - JULY 30, 2013

  • FIPB clears Rs. 2058 crore Jet Airways-Etihad deal with some riders; disputes on Shareholder Agreement will have to be settled under Indian Law.
  • Parthasarathi Shome, Advisor to Finance Minister, P. Chidambaram likely to head Tax Administration Reforms Commission (TARC).
  • Post Tavera recall fiasco, General Motors fires Top Executives.
  • Cooking Gas Bizarre: Distributors want License to sell Cylinders in black, refuse Home Delivery, Charge customers for checking Weight.
  • At $10.9 Billion, Tata is India's top brand followed by Reliance and Airtel: Interbrand's 'Best Indian Brands' Study.
  • Arvind Limited revives Bangladesh Unit Plan, will invest Rs. 60 crore to set up Garment factory.
  • Co-operatives Body to challenge NABARD's decision on Farmer's Loan.
  • General Motor India's Tavera recall puts Auto Industry under the Lens.
  • LIC Investment calls come under criticism from Market Participants.
  • Indian Grand Prix may crash out of Formula One Calendar for 2014: F1 boss - Bernie Ecclestone for reasons being High Taxation and Bureaucratic Hurdles.
  • IPL Spot fixing: Mumbai Police have enough evidence to nail Meiyappan.
Source: Economic Times

Monday, 29 July 2013

NEWS WRAP - JULY 29, 2013

  • Etihad makes major concessions in favour of Naresh Goyal to speed up Jet deal.
  • Aadhaar or Cards: UIDAI and Banks disagree on use of biometric Authentication at ATMs.
  • Omnicom, Publicis merge to form World's biggest Advertising Firm worth more than $35 billion.
  • After Tavera, General Motors India may recall Sail Sedan, UV-A too.
  • Maruti to retain focus on Small Cars for growth in India says MD & CEO, Kenichi Ayukawa.
  • Rupee Fall, Monetary tightening lead Mutual Funds to shed pricey FMCG, Healthcare and switch to IT Sector.
  • RBI Policy and US Federal Reserve meet to keep D-Street on egde.
  • LIC invests Rs. 8700 crore to raise stake in 17 Blue Chip Companies.
  • Holcim to form Panel to integrate Ambuja, ACC operations.
  • IPL Spot-Fixing Scandal: Raj Kundra, Owner of Rajasthan Royals get clean chit; Srinivasan may return as BCCI Chief.
  • Walmart halts India-specific lobbying in US.
  • Usha Sangwan to be First woman Managing Director at LIC.
  • After Bharti Airtel, Department of Telecommunications (DoT) to issue Rs. 100 crore Notices to Vodafone.
  • Heavy Rains damage Soybean Crops in Madhya Pradesh, Cardamom and Pepper in Kerala.
Source: Economic Times

Saturday, 27 July 2013

WHISTLE BLOWERS PROTECTION POLICIES - WORLDWIDE

WHISTLE BLOWERS IN INDIA - UNARMED!

INDIA
Whistle Blowers Protection Bill passed by the Lok Sabha in 2011, remains stuck in Rajya Sabha.

UNITED STATES
Whistleblower Protection Act, 1989 protects the federal government employees who provide evidence for any trangressions. 

UNITED KINGDOM
Public Interest Disclosure Act, 1998 covers both private and public sectors and offers compensation to anyone who suffers after whistle blowing.

CANADA
Public Servants Disclosure Protection Act, 2007 protects the public servants if they blow the lid off a scam or any type of wrongdoing.

NEWS WRAP - JULY 27, 2013

  • Unilever top level rejig: Mideast Chief Sanjiv Mehta to take over in India as Nitin Paranjpe takes Charge of Home Care Business.
  • Draft M&A rules has no mention of Spectrum Sharing; Speedy Approval only to Entities with up to 35% Market Share.
  • Watered Down Jet Etihad Deal likely to get Approved on Monday.
  • RBI Bonds Auction: 80% of Rs. 15000 crore Bonds sold.
  • India dominates Global Market for Spice Oleoresin, controls 60% of Global Spice Oleoresins Market.
  • ITC aspires to be No. 1 in FMCG Sector: YC Devashwar.
  • Gujarat to buy Natural Gas from Canada at $12 per unit. would take at least 3 Years to build Infrastructure.
  • Reliance Life Insurance in talk with smaller banks for tie-up.
  • Sajjan Jindal led - JSW Energy eyes acquisition of distressed units to grow its Energy Portfolio.
  • AP Government lifts 6 Years Ban imposed on Drug Manufacturers, relief to Pharmaceutical Industry.
Source: Economic Times

Friday, 26 July 2013

INTELLECTUAL PROPERTY RIGHTS AT A GLANCE

Intellectual Property Rights can be defined as the rights given to people over the creations of their minds.
Under Intellectual Property Law, owners/creators are granted certain exclusive rights over the use of his/her creations of various intangible assets such as words, symbols, designs, artistic works, inventions, etc, for a certain period of time.

Intellectual Property Rights protected under various statutes of India are:

PATENTS:
Patent in India are presently governed by The Patents (Amendment) Act, 2005. A Patent is a Statutory Right for an invention granted for a  limited period of time to the Patentee by the Government. Patent Protection is a territorial right and effective only within territory of India, however it is possible to file an International Application known as PCT Application in India.
Examples of Patents registered are:
  • Patented Inventions: 'Mitticool' - Mitticool is a natural refrigerator made entirely from clay to store the vegetables, fruits and for cooling water without requiring any electricity or any other form of energy. 
  • Patented Drugs - Vimpat by UCB, Lipaglyn  by Zydus Cadila.
The Term of every Patent in India is of 20 years from the date of filing the Application.

COPYRIGHTS:
Indian Copyright Law laid down in the Indian Copyright Act, 1957 as amended by Copyright (Amendment) Act, 1999 fully reflects the Berne Convention on Copyrights. Copyright is a right given by the law to creators of literary, dramatic, musical and artistic works and producers of cinematograph films and sound recordings. Copyright protects the right of creators of intellectual property.
Owner of Copyright  in different cases:

Literary Work - The Author

(In case of any literary, dramatic or artistic work made by the author in course of employment, the employer shall in the absence of any agreement to the contrary be the first owner of the copyright of the work so far it relates to the publication of such work but in all other respects the Author shall be the first owner of the work).

Musical Work - The Composer

(In case of musical sound recording lyricist, composer, singer, musician and the sound recording company shall collectively have rights in musical sound recording).

Cinematograph Film - The Producer

Photograph - The Photographer
Computer Generated Work - The Person who causes the work to be created.

Copyright does not ordinarily protect titles or names or short word combinations or slogans. Unlike Patents, Copyright protects the expressions and not the ideas.

For a work to gain copyright, it has to be original and should be expressed in a material form. Copyright is thus effective upon the creation of the work, however, Registration of Copyright serves as a prima facie evidence in the court of law.

In general, the Copyright lasts for 60 years. In case of original literary, dramatic, musical, and artistic works the 60-year period is counted from the year following the death of the author. In case of cinematograph films, sound recordings, photographs, the 60 years period is counted from the date of publication.

TRADEMARKS:
India provides Trademark Protection for marks of goods and services, collective marks, certification trademarks and well-known marks under the Trademarks Act, 1999.

Marks can be in the form of Trademark or a Service Mark.  A Trademark is a word, phrase, symbol or design, or combination of words, used in the course of trade which identifies and distinguishes the source of the goods or services.

The TM or SM designations are commonly used as superscripts or subscripts after the trademark or service mark to bring to the notice of public at large that rights in the mark are being claimed. These symbols can be used as soon as the application is filed with the Registrar, on grant of a temporary number. However, the symbol Ò  can be used only when the mark is registered.

Examples of Trademarks are Samsung, Maggi, Rasna, Bharat Matrimony, etc.  



Registration of Trademarks is valid for initial period of 10 years and can be renewed for similar period.

GEOGRAPHICAL INDICATIONS:
Protection to Geographical Indications is provided under the Geographical Indications of Goods (Registration and Protection) Act, 1999. A Geographical Indication may be registered with the Controller General of Patents, Designs and Trademarks (CGPDTM) for all goods originating from a definite territory of a country or a region.

Examples of possible Indian Geographical Indications can be Darjeeling Tea, Alphanso Mango, Kanchipuram Silk Saree, Basmati Rice, etc.
Registration of a Geographical Indication is for 10 years and renewable for the similar period.

INDUSTRIAL DESIGNS:
The Designs Act, 2000 provides protection to Registered Designs in accordance with India's obligations under the TRIPS Agreement. Industrial Designs refer to creative activity which result in the ornamental or formal appearance of the product.

Examples of Industrial Designs are new Indian Curreny Design, Motorbikes, Mosquito Repellant Mats, etc.

The duration of protection is 10 years.



    NEWS WRAP - JULY 26, 2013

    • Holcim-Ambuja Cements Deal under SEBI Scanner; February 2013 Guidelines require SEBI Nod for all Merger & Acquisition deals.
    • Crisil sounds the Debt Knell for India; a third of 11,500 Companies may not be in a position to Service Debts this Fiscal.
    • General Motors Tavera Recall: Auto Company reports Government about  inconsistencies in the Weight of the Cars.
    • India not to join US-led Electronics Trade Pact, Joining first version was a mistake: Officials.
    • DHFL gets Foreign Partner to infuse Fresh Funds; acquires 74% stake in DLF Paramerica Joint Venture deal.
    • India's Best Boards 2013: Kumar Birla-led jury finds only five winners.
    • Vaishno Devi Dairy plans expansion; Rs. 105 crore Investment by 2014-15.
    • Mondelez appoints Ex-Pepsico CEO Manu Anand as India Head.
    • Soaring Revenue silences Facebook Skeptics.
    • Hindustan Unilever sets up First Digital Media Lab in Mumbai to train Managers on Digital Media Marketing.
    • Industrialist Ravi Jaipuria to foray into packaged ready-to-eat, frozen foods.
    • Reliance Entertainment's BIGFLIX ties up with Shemaroo Entertainment for Movie Library Sharing.
    • Vodafone launches new campaign to drive 3G usage in Mumbai; Competitively priced Mobile Internet Packages.
    • SEBI slaps Rs. 4 Lakhs fine on 2 Entities in Sanjay Dangi case.
    • Foreign Funds shifting bets to Singapore having no Securities Transaction Tax (STT) & Minimum Tax on Profits. 
    • Swiss Finance Corporation sells Yes Bank shares worth Rs. 92.55 crore.
    • Blue Rooster takes over plinth at Trafalgar Square in London, representing Male dominance.
    Source: Economic Times