New Delhi, Nov 20 : 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 the 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 the introduction of the Trade Marks Amendment Bill n February 8, 2007.
Accordingly, the bill was introduced in the Lok Sabha on August 23, 2007. It was referred to the department related parliamentary standing committee on commerce on October 1, 2007.
The committee presented its report to both houses of Parliament on 1March 19 this year.