*Q1. What is a trade *mark ? A Trade Mark is a visual symbol in the form of a word , a device ,or a label applied to articles of commerce with a view to indicate to the purchasing public that is a good manufactured or otherwise dealt in by a particular person as distinguished from similar goods dealt or manufacture by other persons. Object of Trade Mark IS to deal with the precise nature of the rights which a person can a cquire in respect of a TM-The mode of acquisition of such rights -the method of transfer of those rights to others-the precise nature of infringement of such rights-and the remedies available in respect thereof.
What is copyright? 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. In fact, it is a bundle of rights including, inter alia, rights of reproduction, communication to the public, adaptation and translation of the work. There could be slight variations in the composition of the rights depending on the work. Why should copyright be protected? Copyright ensures certain minimum safeguards of the rights of authors over their creations, thereby protecting and rewarding creativity.
Creativity being the keystone of progress, no civilized society can afford to ignore the basic requirement of encouraging the same. Economic and social development of a society is dependent on creativity. The protection provided by copyright to the efforts of writers, artists, designers, dramatists, musicians, architects and producers of sound recordings, cinematograph films and computer software, creates an atmosphere conducive to creativity, which induces them to create more and motivates others to create. *What is licensing*?
Licensing is the practice of leasing a legally protected property (such as a trademarked or copyrighted name, logo, likeness, character, phrase or design) to another party in conjunction with a product, service or promotion. It is based on a contractual agreement between the owner of the property (or its agent) known as the licensor; and a licensee – normally a manufacturer or retailer. It grants the licensee permission to use the property subject to specific terms and conditions, which may include the purpose of use, a defined territory and a defined time period.
In exchange for this usage, the licensor receives financial remuneration – normally in the form of a guaranteed fee and/or royalty on a percentage of sales. The Benefit of Licensing for Licensors The key benefit for a licensor is the ability to exploit and enhance its brand or property. Licensing can do this by: increasing its brand presence at retail or distribution outlet creating further brand awareness to support its core products or services supporting and enhancing its core values by associations with the licensed products/service or category (e. . association with a healthy food or with a cutting edge mode of fashion) entering new markets (consumer or geographical) which were unfeasible with it’s own resources or capabilities generating new revenue streams, often with little involvement or additional financial or other resource implications The Benefit of Licensing for Licensees The key benefit for a licensee (especially manufacturer or retailer) is the ability to significantly increase consumer interest in and sales of its products or services.
Licensing can do this by: transferring the values and consumer favour towards the property to the licensed product or service providing added value and differentiation from competitive offerings providing additional marketing support or momentum from the core property’s activity provided by the licensor appealing to new target markets who have not historically been interested in a licensee’s product or service giving credibility for moving into new market sectors through product extension gaining additional retail space and favour Q2. SEBI guidelines for buybacks of shares.