The union cabinet has ratified the country's accession
to the Madrid Protocol, which will provide extensive protection
to Indian trademarks overseas and facilitate foreign firms
to file their trademarks in India.
The accession would facilitate speedy registration of
Indian marks in different markets worldwide and promote
business confidence in the Indian intellectual property
rights (IPR) system globally, finance minister P Chidambaram
told reporters after a meeting of the Cabinet Committee
on Economic Affairs (CCEA).
government would bring a bill in the Parliament for enabling
the country's accession to the Madrid Protocol, 1989,
which is administered by the World Intellectual Property
Organisation (WIPO), he said.
Union Cabinet gave its approval to the following:
1) India's accession to the Madrid Protocol concerning
the International Registration of Marks;
2) Amendment of the Trademarks Act, 1999 with a view to
India's accession to the Madrid Protocol concerning the
International registration of marks.
3) Initiating action for accession to Madrid Protocol
and to introduce a Bill in the Parliament.
This will facilitate transfer of technology through trademarks
licensing and franchising. This will also facilitate speedy
registration of Indian mark in different markets worldwide
and promote business confidence in Indian IPR system globally.
This is a proposal for India's accession to the Madrid
Protocol, 1989 relating to the Madrid Agreement, 1891.
Both the agreement and the protocol deal with the international
system for registration of trademarks. The agreement as
well as the protocol are administered by the World Intellectual
Property Organisation (WIPO).
Any country, which is a member of the Paris Convention
of WIPO, can accede to either the Madrid Agreement or
the Madrid Protocol or both. Currently, 57 countries are
members of the agreement, 71 countries are members of
the protocol and 48 countries
are members of both the agreement and the protocol.
There are several advantages in acceding to the protocol
instead of the agreement. Accession to the Madrid Protocol
will entail amendments to the "Trade Marks Act, 1999".