Aspects of Contract Law Negligence in Business 2

Aspects of Contract Law Negligence in Business - 2

Aspects of Contract Law Negligence in Business 2

Program

Diploma in Business (Marketing)

Unit Number and Title

Aspects of Contract Law Negligence in Business 2

QFC Level

Level 4

Introduction

Aspects of contract law negligence in business 2 has been executed so as to analyse the monopolies and anti-competitive legislations followed in United Kingdom. It also provides an understanding of the role played by competition commission for the purpose of fair trading in the market and applications of EU exemptions to the potentially anti-competitive practices are considered. It also provides knowledge of the different forms of intellectual property, principles related to the protection of the inventions with the help of patent rights and it describes the principles related to copyright protection. The comparison has been made over the protection of trademarks and business names.

Aspects of Contract Law Negligence in Business - 2 - Assignment Help

Task 1

P 1.1 Analyse and advise Mr. Adam on the legal rules on implied terms relating to the sale of goods and supply of services.

An agreement is a legal binding which can be recognised and is enforceable by  business law . It is necessary that an agreement should be free of all the vitiating factors and should not include the contracts that may render the contract void or voidable. In this case of Mr. Adam is presented in which Mr. Adam had purchased a TV from the store for which the store manager had advised. On Sunday afternoon Mr. Adam noticed that the TV set was defective, which was a three weeks from its purchase. Mr. Adam may resort to several grounds of contracts to check its validity in the court of law:

  • Offer and Acceptance: In this case Mr. Adam was an offerer who proposed the offer to buy the TV at the price rates provided, to this offer store manager showed its acceptance (Lawrence, 1977).
  • Intent: Firstly Mr. Adam didn’t wanted to purchase the TV by merely looking around. But after store manager explained and about the TV Mr. Adam gained the intent of purchasing the TV.
  • Consideration: Consideration was the exchange of TV set.

It could be said that it was a valid contract and such type of contracts may include following terms:

  • Express Term: Express terms could be presented in written or in verbal terms which are common between the parties and recognised a most important feature. Under the discussed scenario the contract was of sale of good (Lawrence, 1977).
  • Implied Terms: Implied terms are the terms that are derived from the customs, courts and statute. It is not necessary that the contract is to be specifically mentioned in the implied terms. Under present scenario the implied terms involved under Sale of Goods Act, 1979, these terms are as follows:
  • Implied term on Title (S.12): According to the case of Rowland v Diwall (1923) the condition would be termed to be breached if seller does not have the title to sell. Warranty is also involved in such case which should state that the seller must have a title free from encumbrances which the store manger had in the give case.
  • Implied term on Description (S.13): It is necessary that the description of the goods should correspond with the goods. According to the case of Beale v Taylor (1967) it was stated that goods once seen by the customer and then too customer relies on the description of the seller then it will still be state as a breach. Therefore, in this case the implied term is implied on Mr. Adam that the goods were fine and was confirmed the description till three weeks.
  • Implied Terms on Quality (S.14 (2)): Case of Roger v Parish (1987) supports the statement that the goods shall be of satisfactory quality and shall be considered fit for the purpose the good is being purchased (National Center for State Courts, 1972). It was analysed that Mr. Adam experienced that the product provided to him was a quality product until the defect was discovered by him.
  • Implied term and transfer of Risk (S.14(3)): According to it, it is stated that the risks are transferred with the possession of the products and services and in this case Mr. Adam will have to bear the consequences for the defect found in the goods as now he owns the TV.

Under the Sale of Goods and Services Act, 1982:

  • S.13: the TV set is to be delivered with complete duty of care and skill.
  • S.14: the TV set should have been delivered with a reasonable time.
  • S.15: the TV set should be paid for an agreed price which it was (Kenneth, et. al., 1994).
    • Innominate Terms: Innominate term is the term in which importance of the term is dependent upon the nature of the contract and varies accordingly.
    • Exclusion Clauses: Exclusion clause are the clause in which terms can be negatively used by the powerful parties involve under the contract.

P 1.2 Analyse and advise Mr. Adam on the statutory provision on the transfer of property and possession.

There are several provisions that can be applied to the transfer of property and possession under the Sale of Goods Act, 1979:

  • S.16: In this the goods are not ascertained and possession of the goods does not guarantee the pass until they are ascertained.
  • S.17: In this the properties passes only at the condition when the parties involved intend to undergo with the ascertained goods.
  • S.18: There are various rules that could be applied they are:
  • An unconditional contract is a contract in which ownership of the sale if good passes at the time of contract.
  • If it is required that the good should be first put in the state of delivery then the contract is passes (Kenneth, et. al., 1994).
  • It passes when it is stated that the good is supposed to be weighed and measured and when such activities are done then the contract is passed.
  • On a condition when a good is purchased on approval or returned and when the approval is given it is passed.
  • S.19: According to the case of Aluminium Industries Vaasan BV v Romalpa Aluminium Ltd. (1976), a seller of the product has a right to retain the title.
  • S.20: According to it the risk of property is attached with the property which passes to the buyer at the time when liquidation occurs.

In case if the sale is made by a person who is not an owner of a good then the nemo dat rule is applied. According to the rule a buyer of the good could return it back to the original owner of the good and could claim for the contract stated under S12 (1). Therefore, according to the study it could be understood that Mr. Adam can apply the rules which are stated above which are mentioned under the sections. Mr. Adam has a right to claim the damages from the owner and can claim the damaged under S.24 (Peloso, 2003).

P 1.3 Evaluate the statutory provisions on buyer’s and seller’s remedies in sale of goods contracts

There are certain set of remedies available to buyers and sellers under the Sale of Goods Act, 1979:

Seller’s Remedies:

  • Real Remedies: These are the remedies that are related with the rights of seller in the possession.
  • S.41-43: According to it seller has a right to lean over the property.
  • S.43-46: According to this a seller has a right to stop the transit in case of insolvency.
  • S.47-48: According to it seller has a right to resale the perishable product after mentioning such terms to the customers.
  • Personal Remedies: These are the remedies which are related with the action for price or damages:
  • S.49: According to it store had a right to claim the amount on the basis of the non payment made by Mr. Adam (Gov.uk, Intellectual Property: King of Shaves, 2015).
  • S.50: According to this, a seller has a right to claim the amount from Mr. Adam if he refuses to pay on the basis of the quality when the quality is found to be satisfactory.

Buyer’s Remedies:

  • S.51: According to this Mr. Adam has a right to claim the damages in case of non delivery of the goods.
  • S.52: In such case Mr. Adam has have the right to bring legal action against the damage.
  • S.53: In such contract the warranty may be regarded as a condition if there were any specific to the contract.
  • S.54: Mr. Adam also has a right to recover monies in case of non delivery of the product.

According to the Consumer Legislation 2002 there are various remedies that are available which are as follows:

  • Repair or Replacement: According to S.48B, it is necessary that the store manager should provide replace and repair work for the product in which any sort of inconvenience should not be caused to Mr. Adam (Gov.uk, Intellectual Property: King of Shaves, 2015).
  • Reduction and Rescission: According to S.48C, it is necessary that the store manager should partially or fully refund the payment to Mr. Adam. In this case Mr. Adam has a right to rescind the contract.

P 1.4: Apply product liability statutory provision for faulty goods

Consumer Protection Act, defines that the manufacturer of the incorporated product and the manufacturer of finished products will be liable for any defect that would be found in the incorporated or finished product. According to CPA defectiveness is judged according to the safety and security aspects attached with the product and the risk factors attached with the product in terms of personal injury and damages caused to the property (Phillips, 2011). In such case people that are generally held liable are manufacturer, distributors, suppliers and retailers.

There are three regulations under which liability could be claimed by Mr Adam:

  • Consumer protection Act, 1987: According to this act Mr. Adam could sue the supplier of the product under the principle of strict liability and it is not necessary that he should prove the negligence of the use. In case of loss or damage is occurred then it could be recovered by paying 250 Euros or more depending upon the damage.
  • Law of Contract: If the contract is valid then the liability may arise in case of non compliance with the implied terms attached with the contract. The liability could be towards the recovery of the compensation for the non compliance.
  • Law of Tort: According to the case of Donoghue v Stevenson the manufacturer will be considered a liable in case of negligence and the damage caused to the user of the product due to the negligence of the manufacturer (Elliott, et. al., 2007).

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Task 2

P 2.1 Differentiate between types of credit agreement which Claire could use to obtain the new car.

In present scenario Claire wishes to buy a new car. To buy the car Claire wants to go for the credit arrangements for which Equifax gave her the highest credit ratings. Therefore, there are various credit agreements available to solve the purpose of credit arrangements of Claire which are provided according to the Consumer Credit Act, 1974 and amended by the Consumer Credit Act, 2006:

  • Hire Purchase: In this case the consumer may take the possession of the property but cannot transfer it to the third party in near future. In this situation the consumer will have to repay the creditor for the determined time period.
  • Conditional Sale: In this the sale is made to the consumer on certain set if conditions before transferring the ownership to the purchaser. In this case the property may be confiscated (McKendrick, 2007).
  • Credit Sale: In this the possession and the ownership passes in the beginning of the contract. It is necessary that the purchaser should pay for the goods with respect to the debt involved with it.
  • Shop Budget Account: These are the accounts which are allotted by large shops which allow the revolving credit to its genuine and regular customers.
  • Credit Unions: In this group of local people forms a committee in which amounts are collected on regular basis by the members of the group and any member of the group could ask for the credit at lesser interest rates. It is governed by the Credit Union Act, 1979.

It is necessary that the agency should be certified and licensed so as to avail the credit facilities to the target population. It is necessary that these agencies should provide the charges per credit and the ground of terminations clearly (Spence, 2007). Therefore, it is advised to Claire that she must go for bank loan for the purchase of a fixed asset from the market.

P 2.2: Analyse the rules on termination rights and default notices for Claire to be informed in case she subsequently has trouble paying the debts as required in the contract.

It is necessary that the following termination and default notice on the accounts of termination of the credit agreement should be considered by Claire:

Default Notice:

  • It is necessary that the creditor should send a default notice in relation with the termination of the agreement in case if the early repayment or possession is required under S. 87(1).
  • Protection against the good will is lost by the debtor in case if the mount paid is 1/3rd of the amount due under S.91.
  • It is necessary that the default notice should be clear and precise which should state the clear reason regarding the termination under S.88 (Christie, 2004).
  • Within the time of seven days the default may be met by the recovery of damages or by the enforcement of the security.
  • Notice will be termed as un-serviced in case if the relevant steps have already been taken so as to remedy the default by the borrower under S.89.

Termination Rights:

  • In case if the debtor wants to terminate the contract he can process the termination by giving the notice within the one month of such decision under S.98A.
  • According to S.94-97 debtor has a right of early settlement
  • If in case the debtor is unable to pay the amount due under a hire purchase agreement he may terminate the agreement under S.99.
  • It is necessary that the notice should be serviced to the creditor under S.101 (Peloso, 2003).

P 2.3 Analyse the general features of Agency and differentiate between the difference types of agent.

Features of Agency:

  • For an agency it is necessary that the principal and the third party should be in a contractual relationship but it is not necessary for the principal and the agent.
  • Purpose of such relationship is to facilitate the ease of transaction.
  • On consent of an agreement the agency is created, in this the actual authority is given by the principal to act on the behalf of his conducted duties.
  • It could be formed with the help of statutes like Partnership Act, 1890 or Company Act, 2006.
  • In this case the agent will not be held liable to the third party (Kenneth, et. al., 1994).

It is stated that the Claire may face such an instable professional position in which she can lose her job due to the instability of the economy. Claire is preparing herself to become an Estate Agent if she indeed loses her job. Some of the agencies that exist with respect to agency law are as follows:

  • Estate Agencies: In this kind of agency people deal in actual possessions of different owners.
  • Factors: In this people deals with the tangible property.
  • Brokers: These are the people who deal with the intangible property.
  • Special Agent: Such agents only act on a certain occasion or circumstance for a particular purpose.
  • Universal Agent: The agent handles all the aspects of duties on behalf of the principal.
  • Auctioneers: These are the agencies in which people action both type of property real as well as tangible.
  • Commercial Agents: These are the people who are independent contractors who possess the power to sell or buy the goods (National Center for State Courts, 1972).
  • Directors: These are the people who act as an agent of the company.
  • Banks: These are the financial bodies act as an agent to the clients.
  • Del cradere Agent: The agent working for extra commission is regarded as a del Credere agent. The extra commission is for the guarantee for the introduction of a third party and in case the payment fails the agent will indemnify the principal.

Under an agency the principal shall carry a legal capacity for the contract so being entered into by the agent. An agency is one of the most consensual relationships defining the relationship between the principal and the agent. One party for the benefit of the other party to the contract creates an agency on delegation of the power to perform a certain task. An agency is also present under an employer-employee relationship. The doctrine of undisclosed principal as determined under the case of Siu Yin Kwan v Eastern Insurance Co. Ltd. (1994) could be summarised by stating that he may be sued or sue the agent acting on his behalf within the authorised scope of power. The agent shall at all times while conducting duties be acting on behalf of the principal. The defences available against the agent are applicable towards the principal as well. Through a contract the right of the principal to sue may be present.

P 2.4 Evaluate the duties of an agent to assist Claire understand her position once she becomes an Estate Agent.

There are several set of duties and rights that may influence Claire accordingly:

Duties of Agent:

Non-Existing Contract:

  • There are several fiduciary duties that will be attached with Claire like it is necessary that Claire should make the secret profits, she should nit conflict the interests and should act in the good faith assuming the role of principal.
  • It is necessary that the duties should be possessed by Claire to conduct the responsibilities with the skills and care that could help in maximising the competencies (Lawrence, 1977).

Existing Contract:

  • It is necessary to perform and obey the contract which is agreed upon.

Rights of Agent:

Non-Existing Contract:

  • As an agent Claire has the right to be remunerated for the services provided by her.
  • She has the right to lean over the property at her disposal.

Existing Contract:

  • Reasonable expenses could be claimed by Claire which may be incurred during the restoring of the value of the property.

In the case of Keppel v Wheeler 1927, the estate agent had the responsibility to sell the block of flats at a certain price agreed by the owner. Another offer for a greater price was received before the sale came into effect. It was held that in case of non-conclusion of the sale the prospective offers may be accepted if they reach higher. It would be concluded that the agent had to pay the difference of the prices and was entitled to the claim for the sale so made.

In the case of De Mattos v Benjamin, it was held that the agent is answerable to the principal for the actions so undertaken on his behalf. Accordingly in case of Lamb v Evans it was held that the agent has to act in good faith on behalf of the principal. The gent is also required to play by the instructions provided by the principal as determined in the case of Bertram, Armstrong & Co. V. Hugh Godfray. The performance of the duty will be determined against the contract so entered into by parties as determined by the judge in Solomon v Barker.

Task 3

For the purpose of better understanding a case study has been selected named as “Advertising of Estate Agent’s Fees”. According to this case study a fine has been imposed by CMA over the association of such agents and a newspaper publishing house for the breach of competition law.

P 3.1 outline monopolies and anti-competitive practice legislation in the United Kingdom

As per the market dominance concept, there are various arrangements which act as a threat to the competition. These threats are discussed below:

  • Monopoly is having a control of 25% share of the market.
  • The monopoly of two companies is having a control of 25 % market share of a given market.
  • The case of monopoly where the minimal control is of 25 % or of 30 million Euros through merger.
  • The case of development of a monopoly on the basis of free-market system in which the increase in the power of a firm is the result of its success.
  • According to horizontal merger, after the merger companies hold a dominant share in the market. This can be seen in the case of merger of Mc Donell and Douglas aircraft manufacturers (Milchenko, 2013).

For the purpose of preventing monopoly so as to prevent the occurrence of dominant position over the market, government of United Kingdom has made some efforts. For the encouragement of development of the marketing planning  and for encouraging a new product and innovations for offering better quality to the customers there is a need to protect or prevent competition. Anti-competitive are those activities which act as a restriction to the competition. These activities are restricted according to the two aspects which are mentioned below:

  • Chapter I of Competition Act, 1998 and Article 101 of TFEU which is related with the anti-competitive agreements.
  • Chapter II of Competition Act 1998 and Article 102 of TFEU which is related with the abuse of dominant position.

According to Chapter I and Article 101 few agreements are declared as anti-competitive. These are mentioned below:

  • Fixation of the purchasing or selling prices in direct or indirect manner.
  • Placing a control or setting a limit over the production or markets.
  • Application of the conditions of dissimilar conditions in the case of similar situations.
  • Application of those conditions which are not primary for the contract and converting them into mandatory so as to enforce them.
  • Involvement of Cartels in fixation of price, big rigging and market sharing (Milchenko, 2013).

The penalties for the anti-competitive practices are as follows:

  • Imposition of fine up to 10 % of group global turnover.
  • Conversion of the agreement in void and unenforceable form.
  • Some steps are taken by the third parties or competitors for dealing with the anti-competitive code of conduct.
  • Prohibition from the trade altogether.
  • An unlimited fine and imprisonment for 5 years can be involved by Cartels.

The step taken was to prohibit the members of the association with the advertising fees charges by it in a local newspaper. A restriction was placed so as to bind the fellow agents from advertising their fees and discounts offered which limits the ability of competing that discourages the competition. Cartels are illegal arrangements in order to gang-up against the consumers and the suppliers to draw a collective profit directed towards the group entirely. This in turn affects the competition and brings harm towards the consumers. Another illegal activity of similar kind is discouraging new entrants into the market by creating artificial barriers. This reduces the competition and hinders progress in the market. The prices are cut in order to destroy the pricing. The act of pressuring the suppliers in order to not supply to the competitors is restrictive practise in the market. The effect of premium brands against the regular brands in a market by advertising more for premium brands affects the costs of the regular brands.

The Competition Act, 1998 along with the Enterprise Act, 2002, the new regime for the anti-competitive practices was adopted. The EA has been modified in accordance with the CA in order to strengthen the UK Market Regulations. The competitive policies are to be adopted in order to promote a healthy and fair competition. According to CA the anti-competitive practices are such that restricts, distorts or prevents a competition. The replacement of OFT still allows the investigation to be taken up in order to specify the conduct and the individual firm or group of firms instead of a general investigation. If any such practices are discovered then the Director General may take up an investigation for the initial informal inquiry. If the findings are positive the director may either accept the undertakings or refer the case to MMC.

P 3.2 explain the role of the Competition Commission within the context of monopolies and anti-competitive practices and the UK Office of Fair Trading

The functioning of the anti-competitive practices is regulated on the basis of below mentioned principles:

  • Merger of investigation/ control (Ying, 2011).
  • The illegal merger amounts to 250 million Euros worth of turnover.
  • Investigation and launch in the period of one month of notice.

The emphasis has been places over the competition law with the establishment of office of fair trading involved in the conduction of the below mentioned functions according to the Enterprise Act of 2002:

  • For allocation of exemption
  • Investigation over the possible anti-competitive practices
  • Recommendation over the transforming regulations.

The following actions can be initiated by Director General of Fair Trading to the newly established office are as follows:

  • Proposition of change in law
  • Conducting investigation over mergers
  • Conduction of investigation over dominant positions
  • Application of the concepts of market policy initiatives division for the purpose of studying the market.
  • Application of competition test for the purpose of validating the merger control in a given market (Ying, 2011).

As per the Enterprise Act, 2002 the functions of competition commission are as follows:

  • Analysis of the cases referred by OFT.
  • Providing recommendations for considering so as hearing the appeals on the cases already decided.
  • Taking remedial decisions.

P 3.3 define dominant positions within the EU common market

Chapter II and Article 102 regulates the abuse of dominant market position which restricts such acts. Such type of dominancy can be understood as an unfavourable market share which affects business of competitors. Dominancy is when the holding is 40 % of the market share as per the OFT and 50 % as per the ECJ. These below mentioned restrictions are under the provisions:

  • Fixation of the purchasing or selling prices in direct or indirect manner.
  • Placing a control or setting a limit over the production or markets.
  • Application of the conditions of dissimilar conditions in the case of similar situations.
  • Application of those conditions which are not primary for the contract and converting them into mandatory so as to enforce them (Singh, 2013).

It has been concluded that these activities or limitations have bounded the advertisement which has been considered an important aspect of the business of the agency which limits the market competition.

P 3.4 consider the application of EU exemptions to potentially anti-competitive practices

There is no need to restrict the anti-competitive agreement. From the case of Pharmaceutical companies, analysis has been made that the two companies can work together so as to develop a drug which provides benefit to the society.

The exemptions which are allowed under Article 101(3) are as follows:

  • So as to improve the process of production or distribution of products and services.
  • So as to make the restriction crucial.
  • So as to provide exemplary benefits to the customers.
  • These activities eliminate the competition (Mas, 2011).

Various exemptions are related with coping with the legal requirements so as to avoid consequences. These exemptions are based on the exemptions covered under Article 82 or Chapter II according to these conditions:

  • During the abuse the position the type of benefits which are drawn under the circumstances.
  • An automatic exemption is granted under A.81 (3) when exemption is granted under S.9, S.10.

Other exemptions are considered as block exemptions under TFEU:

  • Vertical agreements which can be general or concerned with motor vehicle.
  • Horizontal agreements.
  • Licensing agreements for transferring the technology (Mas, 2011).

These mentioned activities of prohibited advertisement of agent’s fees can be exempted in case the practice which is involved a factor of elimination of the competition which is not an aspect under this scenario.

Task 4

P 4.1 Identify differing forms of intellectual property

Intellectual property is being an asset of the company has been used worldwide in order to save its assets from infringement. Intellectual property is the right related to the creator or developer in the form of innovation, creation discoveries for the protection of its wrongful use. In a simple word it is a right given by authorised commission to protect applicant from the infringement of it rights in the given inventions(Milchenko, 2013).

There are following right given as fellows:-

  • Patent: - this is the creation or invention of the products and service which are having its industrial application. Patent is only given to those product and services which are having substantial applicability in industry process. Patent worldwide issued for the protection of applicant right for maximum 20 year. In most of countries this time period is more than 20 years but U.K. country in order to align its law and provision with international intellectual property rights kept this protection life cycle for only 20 years.
  • Trade mark: - It is the mark, logo, symbol, which distinguish the goods or services of the applicant from those of others in the market. Usually organisation used this trade mark for creation of brand competency in market. For the long term sustainability it is very important for the business to create a brand in order to compete in market. It is issued for a term of 10 year after that it can be re-issued to the applicant.
  • Geographical indication: - it is mark given for the product and services which defies its geographical limitation. It helps buyer to know the origin of the product
  • Copy right: - It is right given for some specific purpose usually it government has defined some specific purpose only for them copy right is issued. It is usually concerned with the expression of thoughts and interest or artist creations
  • Electronic circuit: - It is the technical mark given to the applicant which protects the user from the wrongful use of its electronic circuit. It is usually given for chips or core devices.

Will King have challenged the intellectual property right of the creation of King of Shaves shaving oil?  It was derived by him that the trademarks and patents so associated with the creation shall be protected to prevent a third party from trading the same.

P 4.2 Outline the principles relating to the protection of inventions through patent rights and their infringement in a given business scenario

There are following principals given for the protection of inventions through patent rights:-

  • Patent is issued to the inventive steps having its industrial capabilities.
  • Patent use can be delighted by only its actual owner who has applied for the issue of patent to the authorised patent commission.
  • Validity of patent is 20 years attached with its renewal capacity after first four year.
  • Patent ACT 1977 provides protection from its wrongful use all over world to its actual owner.
  • There is provision in case if the invention or creative steps having industrial applicability has taken place under the supervision of employer then such inventive steps would belong to the employer. He will be liable to make application of such right. 
  • Inventing razors while using a plastic hybrid handle with a lighter and elegant design with a bend ology to hold the blade. To this he now has twelve patents on his razor that offers a differentiation in the market(Milchenko, 2013)..

P 4.3 Describe the principles relating to copyright protection and their infringement in a given business scenario

 There are following principles relating to copyright protection has been given

  • Copy right involves with creative skills concern with the new work.
  • Copy right helps applicant to protect its work from being photographed, recorded by others in any manner.
  • There is provision given under copy right act that more than one copy right could be issued for one work.
  • Limitation of copy right in term of its life is 60 years but rights related with broadcasts and programmes are valid for 50 years where as some specific rights are valid for 70 years starting from the year in which author got died.
  • The owner of copy right may delegate its right to some other person for with or without consideration.
  • There are strict lawful penalties imposed by government in order to protect infringement of right.

Under the chosen business scenario as the product was concerned with unique invention it did not apply to copyrights. However the design of the product may be copyrighted as the razor had some changed structures and qualities to it(Milchenko, 2013)..

P 4.4 Compare and contrast the protection of trademarks and business names

Trade mark is the mark, logo, brand name, character, or other symbol available which helps businessman to keep its product or services distinguished in the market from those of others who are falling in the same segment. Owner of trade mark can bring lawful action against the infringement of his rights. This study has made me vigilant with the protection of rights and consequences of its infringement by others wrongful persons.

Whereas business name is the name used for the recognition of its business in the market. Usually it is taken at the time of incorporation of the business and can be altered with the time. A business name is regulated under business names Act 1985. Some time with the complexity in the business life cycle promoters may like to keep different company and business name. It is finds that company name is regulated under the authorised authority whereas business name is not regulated.

There is following differences between two:-

There is the case of In United States trademark law, Abercrombie & Fitch Co. v. Hunting World in which case of different use of trade mark with that of its business name was found. Under this case there is loss of 25 billion US$ due to the wrong use of business name. In this tort decree was passed against the user(Milchenko, 2013)..

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Conclusion

In today’s world it is seen that there is so many organisation is running their  business strategy . In order to compete others there is need to generate core competency in their business quality. Intellectual properties are the helpful factors that distinguish organisation from those of others in the market. With the help of whole study I have come to the conclusion that there is strict laws and regulation in the country that protects rights and inventive process of the applicant. Different principles and laws are the key pillars of intellectual properties.

References

Milchenko, O. 2013, "Contemporary anti-competitive practices of patents usage", Journal of International Commercial Law and Technology, vol. 8, no. 3, pp. 190.
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Singh, P. 2013, "Convergence in Emerging Markets: The Case of Abuse of Dominant Position in Competition Policy",Journal of Interdisciplinary Economics, vol. 25, no. 1-2, pp. 41-67.
Mas, J.G.N. 2011, "Industry Characteristics and Anti-Competitive Behavior: Evidence from the European Commission's Decisions", Review of Industrial Organization, vol. 39, no. 3, pp.
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Phillips, J. (2011). Property! What property?.Journal of Intellectual Property Law & Practice, 6(12), pp.839-839.
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National Center for State Courts, 1972, Court Improvement Programs: A Guidebook for Planners 230-36
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