Blogs – Legal Nestors

13 Jun

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Benefit of Trademark Registration India

Intellectual Rights Trademark Registration

There are various benefits trademark registration india provides to your business while developing a product or service and avoids many related business risks. Securing your product or service with trademark will not only help you expand your business with ease but will also help protect your brand and will avoid someone else to use the same or similar signs and riding off the back of your business. Trademark provides you rights to take legal actions against any person or company who try to forfeit with a conflicting trademark thus causing a damage to your business. Trademark also provides your business with intrinsic value.

Here are few benefits that trademark registration provides you right away-

It provides you exclusive rights over the brand name and logo of your company.
It provides the recognition to your products and services in the market.
It provides enhanced business opportunities to your brand.

Trademark Registration Process

For trademark registration India, you need to follow below steps –

First you need to search for trademark in the trademark database so as not to copy anybody else’s trademarked information to avoid later conflicts. This can be done at Trademark Registrar Website.
Once you have found the unique identity for your business then you need to file for trademark. For this you need to file a trademark registration application with Trademark Registrar. The application must be filled as per the norms and guidelines mentioned in the application. You can do this on your own through Online Trademark Registration or take help of any lawyer or agent.
Your trademark registration application must contain the logo for your business, name and address of the trademark owner, classification of your trademark, the date since when you will be using the trademark and description of goods and services that you would be using the trademark for.
Once you have done with your trademark filling and submitted the trademark application, you shall be give trademark allotment number. With this allotment number, you can also track the status of your application online. After getting this allotment number you can affix TM next to your logo.
While your trademark registration India, once you have submitted your application, the trademark registrar will apply the Vienna classification (which is an international classification of figurative elements of marks). While this is in process, your application shall show ” Sent for Vienna Codification”
Once the Vienna Codification is complete then your application shall be allotted to trademark officer who would check the application for correctness and issue an examination report. Trademark Officer shall be judging the application and can accept or reject the application.
In case Trademark Officer rejects the application for Trademark Filing, then an applicant can put forward his justification before Trademark Registrar as to why his application should be accepted on basis of which his application can again be reviewed and again be accepted or rejected.
If the application is accepted then it must be marked for Journal Publication which includes manuscript, Hindi translation, scanning and composing of the trademark while awaiting if anybody opposes the trademark.

In case no one opposes or files against the trademark filing India then the application is processed for registration.

7 Jun

Cabinet Approves The Arbitration And Conciliation (Amendment) Bill, 2018

legalnest

Corporate

In an attempt to make the Indian arbitration stronger and more regularized, the Cabinet has approved the Arbitration and Conciliation (Amendment) Bill, 2018 for introduction in the Parliament. The Bill proposes to make the arbitration process user-friendly, cost-effective and to expedite speedy disposal.

One of the main objectives of the Bill is to facilitate speedy appointment of arbitrators through arbitral institutions designated by the Supreme Court or the High Court. Accordingly, the parties may directly approach the designated arbitral institutions for International Commercial Arbitration.

Salient Features

The Bill provides to establish an independent body namely the Arbitration Council of India (“ACI”) which intends to make India a pivot of “independent and autonomous regime for institutionalized arbitration.” The ACI will grade arbitral institutions and accredit arbitrators by laying norms to promote and encourage arbitrations, conciliation, mediation and other dispute resolution mechanisms. The ACI is also required to maintain an electronic depository of all arbitral awards.
It exclude International arbitration from all bounds of timelines and stipulates that the time limit for arbitral award in other arbitrations shall be 12 months from the completion of the pleadings by the parties.
The arbitrator and the arbitral institutions are required to keep confidentiality of all the arbitral proceedings except the award. Further, an Arbitrator is also protected from suits or other legal proceedings for any action or omission done by him/her in good faith during the course of arbitration.

The Bill addresses problems like systemic delays, high costs, confidentiality issue, ineffective resolution and ensures quick enforcement of contracts along with minimizing hurdles of delay. It also aims at catalyzing cross-border business environment and to make India an attractive destination for the arbitration of international commercial disputes.

7 Jun

Are you planning to start your own company? Know about these new rules before kicking off!!

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Business Registration Company Registration, Legal Nestors, Startup

It’s 2018 and almost each one of us has contemplated starting a company at least once at some point in our lives. Since you are reading this blog, I guess you are also the one. The feeling to have a company to ourselves is beyond imagination. Am I right Our journey towards entrepreneurship starts simply with registering a company.

There is good news for the startup enthusiasts; Indian government has introduced some new amendment in company registration act and it will surely give you a head start in kicking off your own journey towards being your own boss.

1. Digital India’s RUN (Reserve Unique Name) – Adding another feather into the cap of Digital India, Ministry of Corporate Affairs (MCA) have introduced a Web Service named “RUN- Reserve Unique Name” for company name reservation. Government of India (GOI) has introduced RUN in the form of web form which has replaced INC-1 form or the name incorporation directly through SPICe.
  Major Features of RUN
  It doesn’t require DIN (Director Identification Number) or DSC (Digital Signature Certificate to initiate the process of name incorporation.
  - Irrespective of the name approval, you will have to pay INR 1,000 for submitting the RUN form.
  - If the name has been approved it will be valid up to 20 days for the new company, starting from the day of approval and for an existing company, it will be valid up to 60 days.
  - RUN only gives you the option of registering only one name while INC-1 had provision for up to 6 names.

1. NO COST Company Incorporation
  Now there won’t be any company incorporation cost under SPICe (Simplified Proforma for Incorporating Company Electronically), e-Memorandum of Association (e-MoA) and e-Articles of Association (e-AoA); which will in turn help startups to save the cost and have a formal registration for their company. The stamp duty is still important to pay which will depend on the state of incorporation of the company.

Adding DIN (Director Identification Number)
If you are applying for DIN (Director Identification Number) then you will have to take the SPICe route. As per MCA, the details of the directors along with valid identity and address proof needs to be filled in the SPICe Form.In case of the existing company, if you are adding a new director then you will have to use DIR-3 forms. This form provides furnishing the CIN (Corporate Identification Number) and a declaration of DIN for the appointment of the new director.

The above provision has surely brought some relief in founding a company to the newbie entrepreneurs. As they say, Building a business is a journey where we need to take one step at a time.