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| India follows common law tradition and judicial precedents do have binding force. Hence the decisions of the Supreme Court bind the lower judiciary of the country. |
| The Intellectual Property Laws do provide for statutory enforcement mechanisms. The most important of the Indian Intellectual Property Laws are:- |
| The Patents Act, 1970 | ||
| The Trade Marks Act, 1999 | ||
| The Copyright Act, 1957 | ||
| The Designs Act, 2001 |
| The above legislations are supported by the relevant Rules there under and these rules are:- |
| The Patents Rules, 1972 as amended by the Patents (Amendment) Act of 1999 | ||
| The Trade Rules, 2001 | ||
| The Copyright Rules, 1958 & | ||
| The Designs Rules, 2000 |
| The main post WTO Intellectual Property legislations are:- |
| The Geographical Indications Act, 1999 | ||
| The Semi Conductors Integrated Circuits Layout - Design Act, 2000 |
| The Geographical Indications Rules provide for the administrative mechanisms for registration and enforcement of Geographical Indications. The Semi Conductor Integrated Circuits Layout Design Act is yet to have its rules to support the administrative mechanism there under. The Information Technology Act, 2000 also plays an important role in relation to areas of inter-phase between Information Technology and Intellectual Property Rights. All the above-mentioned legislations provide for in-built enforcement mechanisms and detailed procedures there of. |
| Intellectual Property Transactions |
| Technical |
| India announced the new economic policy in 1991 with a view to liberalize its economy and allow inflow of foreign investment. The New Economic Policy envisages a structured and gradual opening up of Indian market. Accordingly the Government of India permitted foreign investment in various sectors of industry subject to certain conditions. Sectoral ceilings for investments in identified sectors of industries were prescribed. The Policy also clarified the foreign exchange and other regulatory approvals for technology collaborations. Certain sectors are completely opened up for foreign direct investment. Based on this rationale of gradual and structured opening up of the market, the Government of India constituted the Foreign Investment Promotion Board. A Secretariat of Industrial Assistance was also constituted in the Ministry of Commerce and Industries to provide single-window clearance for investments in India. While the Reserve Bank of India has been empowered to provide Automatic Approvals for foreign investments in certain categories thus dispensing with the requirements to have prior approvals, the FIPB is authorized to grant specific approval to investment proposals for transactions that do not fall under the Automatic Route. There are a number of corporate routes that a foreign company could adopt to enter the Indian market. Licensing the use of trademarks and technical know-how is the most easy and indirect among these corporate routes. Ordinarily licensing involves two parts: |
| Licensing of technical know-how | ||
| Licensing of Intellectual Property Rights |
| Technical licensing between Indian Companies and foreign companies come under the Automatic Approval Route, if the payment terms satisfy the Government of India Guidelines. The following Press Note clarified the procedure in respect of foreign technology collaborations: |
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| Procedure in respect of foreign technology agreements |
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