International-Business-Dr-R-Chandran-E-book

AGREEMENTS OBJECTIVE OF
AGREEMENT
3. Trade Related
Intellectual
Property Rights
(TRIPS)
• Provide
protection to
IPRS as Patents,
copyrights,
Trade marks,
Ind..Designs,
Layout designs
for ICs,
Geographical
indications and
Undisclosed
information
• National and
MFN Treatment
• Developing
countries to
implement
within 5 years.
174
International Business- Dr. R. Chandran
IMPACT ON
INDIAN
POLICY/ LAWS
• Immediate
change
required in
Patents Act
(1970), Trade
and
Merchandise
Marks Act
(1958),
Designs Act
(1957) etc.
• TRIPS
agreement will
also trigger
changes in
certain
provisions of
Contract Act
(1872), Law of
Torts,
Companies
Act(1961), IT
Act (1961),
MRTP Act
(1969) etc.
• New Acts to be
enacted.
BUSINESS
IMPLICATIONS
provider
• E-commerce and
internet will fuel
export of services
further
• Impact will be on
all businesses
• Main source of
technology for
SMEs reverse
engineering will
be difficult, with
the stricter IPR
Regime and in
new regime
‘ignorance of law
will be no
excuse’ (the
burden of proof
is on infringe.)
• The Transfer of
Technology cases
may increase
however on
commercial
terms as
counterfeit trade
will have
effective
deterrent
(amended laws)
• India’s own
R&D institutions
could reap
benefits within
India as well as
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