The Union Cabinet today gave its approval for modification of the Trade Marks (Amendment) Bill, 2007 with certain consequential changes on the basis of recommendations contained in the Report of the Department Related Parliamentary Standing Committee on Commerce and to introduce the said Bill in Parliament.
The amended said Bill will provided better protection to Indian trade marks in designated member countries and afford reciprocal protection to trade marks from member countries abroad. It will thus encourage transfer of technology through trade mark licensing and franchising and generally promote overall business confidence in Indian IPR System globally.
The Cabinet had approved on 8th February, 2007, introduction of the Trade Marks (Amendment) Bill, 2007. Accordingly, the Bill was introduced in the Lok Sabha on 23rd August, 2007. The Bill was referred to the Department Related Parliamentary Standing Committee on Commerce on 1st October, 2007. The Committee presented its Report to both Houses of Parliament on 19th March, 2008. The Committee endorsed the proposal and objectives of the Bill in general and agreed with most of the provisions of the Bill.
