New Delhi, Nov 20 (UNI) The Union Cabinet today approved modifications in the Trade Marks (Amendment) Bill, 2007, providing for better protection to Indian trade marks in designated member countries.
The modified Bill, to be introduced in Parliament, will also afford reciprocal protection to trade marks from member countries abroad.
''This will encourage transfer of technology through trade mark licensing and franchising, and generally promote overall business confidence in Indian IPR system globally,'' Minister of State in the PMO Prithviraj Chavan told reporters.
The modifications were made on the basis of the recommendations contained in the report of the department related parliamentary standing committee on commerce.
The Bill was referred to the committee on October 2007 after it was introduced in the Lok Sabha on August 23, 2007.
The committee presented its report to both Houses of Parliament on March 19, 2008, after endorsing the proposal and objectives of the Bill in general and agreeing with most of its provisions.
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