LAW RELATING TO TRADEMARK

A compressive law relating to trademark and its subsequent licensing was first passed in 1958. It  has since amended many times. A trademark is essentially a picture, label, word or words, and includes a device, brand, heading, label, name, signature, numeral, shape of goods packaging or combination of colours thereof which are applied or attached to goods of a trader so as to distinguish them as his from similar goods of other traders and to identify them as his goods. It is the adoption of the use of trademark that gave it its title. Thus a trademark is a property right and the law protects that right.  For example, the trade mark Lakme distinguishes the goods of Lakme, Unilever from that of Revlon. Similarly the word Lakme is a separate trade mark which distinguishes goods of Revlon.

Much before the articulation of customs and rules of contract into legislations, contracts existed in a different form than now. Merchants or tradespersons would usually enter into oral agreements. Gradually, written form of agreements emerged. The law of contracts  in form Section 2(h) of the Indian Contracts Act, 1872 defines contract to be “an agreement enforceable by law”. This implies that any agreement which can be enforced in a court of law is a contract. Agreements which do not have the force of law are not per se futile; they just cannot be legally enforced. With the evolution of law of contracts over the centuries, it has become an indispensable part of modern day business transactions. It is essential to get a contract drafted for your business needs to streamline the day to day transactions, define the duties of the parties to the contract, liabilities, damages and modes of dispute resolution. The five reasons why a contract is essential for your business—