Financial Daily from THE HINDU group of publications
Thursday, Jul 11, 2002
Financial Daily from THE HINDU group of publications Thursday, Jul 11, 2002 |
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Industry & Economy
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IPR Patents Bill gets President's assent Our Bureau
NEW DELHI, July 10 THE President has given his assent to the Patents (Amendment) Bill, 2002. With this, the Bill as passed by Parliament in its Budget session that ended on May 17, 2002 has been notified in the Gazette. The various provisions of the Act will be implemented on different dates to be notified by the Ministry of Commerce. The Patents (Amendment) Act, 2002, seeks to amend the Patents Act, 1970, to be referred to as the Principal Act. The comprehensive amendment of the Principal Act is intended to prepare India to meet the challenges of globalisation under the World Trade Organisation (WTO) regime and the Intellectual Property Rights Agreements on Trade Related Aspects of WTO. Under the Act, there will be a Controller to issue licence for patents, cancellations of licence for patents and regulation of patent regime in the country in keeping with the global standards to maintain quality of products, services and other related matters. The Appellate Board established under the Trade Marks Act, 1999 should be the authority for appeal against the order of Controller. It will replace High Courts and any other court for adjudication of cases relating to patents under this Act, and appeal, if any, against the Appellate Board shall lie with the Supreme Court of India. The Act provides for procedure of the Appellate Board, the performance of Controller, their authorities and powers in-line with the best of global standards, besides mechanism and procedure for granting compulsory licences, its terms and conditions, power of controller to revoke licence and procedure for dealing with applications for patents.
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