BLAW UNIT-3 | Degree 2nd semester bcom business law unit-3 full explanation in 1 video | O.U |

[00:00:00]Hello dear students, welcome back to our YouTube channel Learn with Sahira. In this video, I'm going to give you the complete and clear explanation of unit number three from the subject business law, which is for degree second semester B.Com students. Definitely watch the video till the very end, and if you are new to our YouTube channel Learn with Sahira, subscribe it for more exam preparation videos. Students, one more important thing, I have already prepared dam sure important question and answers notes for all subjects and languages of degree second semester. Basically, these notes are easy, simple, clear to understand, and 100% exam oriented. And the best part of these notes is just by giving a reading, you will get perfect with the complete subject, complete language, because I have given in detail explanations with very easy and simple terminology. If you want these notes to score O grade in your exams, definitely message me on my Instagram. My Instagram ID link is available in this video description. Just message me want notes along with your group and semester, I will be giving you the access to all the notes. But remember, these are paid notes as there is a small payment for the notes, but believe me, you're going to see excellent results only the students who want the notes should text me. Guys, if you want to watch all explanation videos of this subject, definitely check out our playlist. The playlist link is available in this video description. Without getting late, let us get started. Guys, from unit number three, question number one is, "What do you mean by intellectual property rights? In short, IPR. Explain the different types of intellectual property rights." First, let us try to understand a little about IPR.

[00:01:27]Guys, intellectual property rights, or IPR, are legal rights given to a person to protect his or her ideas, his or her inventions, creations, basically original work, guys. These rights help the creator to become the legal owner of their work, okay? Without the creator's permission, others cannot copy, use, or sell that work. So, the main purpose of IPR is to encourage creativity and protect the new ideas, guys. For example, if a person invents a new machine or creates a new logo for a company, the law protects that work through intellectual property rights. I hope you understood. There are different types. What are they? Let us try to understand now. First is patent, guys. A patent is a legal right given to an inventor for a new invention. It gives the inventor the exclusive right to make, use, and sell the invention for a certain period, okay? For example, if a scientist invents a new medical device, he can get a patent for that invention.

[00:02:30]This prevents others from copying it without permission, okay? Copyright, it protects original creative works such as books, songs, movies, paintings, computer softwares, and photographs, guys. Basically, the creator gets the exclusive right to copy, sub publish, or sell the work, okay? Like if the author writes a book, no one can print or print or sell that book without the author's permission. It is copyright.

[00:02:59]Trademark, it is name, logo, symbol, word, or design used to identify the goods or services of a business, guys. Basically, it helps the customers to identify a particular brand. No other company can use the same trademark without the without the permission, okay? Next, industrial design, guys. An industrial design protects the outer appearance or design of a product. Basically, it protects the shape, pattern, color, or style of the product. For example, guys, the unique design of a mobile phone or a water bottle, they can be protected as an industrial design. Then, GI, geographical indication, guys. It is used for products that come from a particular place and are famous because of that place. For example, Hyderabadi Haleem, Hyderabadi Biryani, Darjeeling tea, and Mysore silk. These are well-known GI products. Only producers from those places can use those names.

[00:03:56]Trade secret, guys. A trade secret is confidential business information that gives a business an advantage over its competitors. So, this information is not made to public, okay? Like the secret recipe of a soft drink or a special manufacturing process is a trade secret.

[00:04:13]Plant variety protection, guys. Plant variety protection gives legal rights to people who develop new varieties of plants. Basically, it encourages scientists and farmers to create better quality crops, okay? So, yes, this is the explanation of IPR and types of IPR.

[00:04:32]Do not worry at all. In my notes, I have given you in detail explanation answers, which are 100% exam-oriented to score full marks, guys. In this video, I'm giving you brief and short explanation, but this is not the way how you will be writing it in your examination. For your examination, you need 100% exam-oriented answers, in detail answers, which are already included in my notes. If you want those notes, you can message me on my Instagram. My Instagram ID link is available in this video description.

[00:05:00]Just message me want notes along with your group and semester, guys. I will be giving you all the notes. Just by giving a reading once, you will get perfect with the complete subject. If you want them, message me on my Instagram.

[00:05:11]Question number two, what is a trademark? Explain the functions of a trademark and the registration process.

[00:05:16]Guys, what is a trademark, guys? Just now we have seen when we were discussing types of IPR. A trademark is a name, logo, symbol, word, design, or a combination of these that is used to identify the goods or services of a business. Basically, guys, it helps the customers to recognize one company's products and distinguish them from the products of another company. So, for example, guys, when you see the logo or name of a famous company, you can easily identify its product, right? That logo or name is nothing but trademark.

[00:05:52]Okay, now let us try to understand the functions of a trademark. Guys, it identifies the source of goods. A trademark tells the customers which company has made the product. Basically, it will help the people to know the source or origin of the goods, okay?

[00:06:06]When you see a company's logo on a product, you immediately know which company made it, right? So, it is source of goods. It distinguishes goods and services, guys. A trademark helps the customers to differentiate one company's products from another company's products. Even if two companies sell similar goods, their trademarks are different. It indicates quality, guys. A well-known trademark gives customers confidence about the quality of the product. When people trust a brand, they will expect its products to be also of good quality. Creates goodwill. A trademark helps the business to build its reputation in the market, guys. When customers are satisfied with a product, they will start trusting the brand. So, yes, reputation or goodwill name will be created. It helps in advertising, guys.

[00:06:52]A trademark is also useful for advertising and promoting products.

[00:06:55]People can easily remember a unique name or logo, okay? Basically, this will attract more customers and increase the sales. These are the functions. Now, let us try to understand the registration process. First, trademark search. The first step is to check whether the proposed trademark is already registered by someone else. Like if the trademark is unique, the registration process can continue. Filing of application, guys.

[00:07:21]The applicant files a trademark application with the trademark registry.

[00:07:25]The application contains details of the trademark and the goods or services for which it will be used. Basically, all the basic information. Examination. The trademark office examines the application. It will check whether the trademark follows all the legal rules and whether it is eligible for registration. Then, if the application is accepted, the trademark is published in the trademark journal, okay? This will allow the public to see the trademark, basically. Opposition, guys.

[00:07:52]If anyone believes a trademark should not be registered, they can file an objection within the prescribed time, okay? If no valid objection is received, the registration process will continue.

[00:08:03]Registration, if there is no opposition or if there is opposition decided in favor of the applicant, the trademark is registered. Basically, the owner will receive a trademark registration certificate, and he or she will get legal protection over the trademark. So, yes, guys, this is what it is all about trademark functions and registration process. If you want in detail 100% exam-oriented answers, you need to message me on my Instagram, okay? As I said you, do not waste your time in searching for the answers or spending a lot of time in remembering the answers.

[00:08:39]100% exam-oriented answers notes are already available. Just give a reading.

[00:08:44]In very less time, you can get perfect with the complete subject. Guys, now there is a question which is define patent, explain the types of patents, and rights of patentee. What is a patent, guys? Already we have seen what is a patent. A patent is a legal right given by the government to an inventor for a new invention. Basically, it gives the inventor the exclusive right to make, use, sell, license the invention for a certain period, guys. So, during this period, no one else can copy, or no one can use the invention without the inventor's permission, okay? So, basically, the main purpose of patent is to protect inventions and encourage innovation.

[00:09:25]We have types and rights, guys. First, let us try to understand types. Product patent, a product patent protects a new product or invention. Like, it will give the inventor the exclusive right to make, use, and sell the product. Process patent, a process patent protects a new method or process used to manufacture a product, guys. Others cannot use the same process without permission. Utility patent, it protects inventions that are useful and have practical applications, guys. Like, they are generally granted for new machines, devices, or useful improvements in existing products.

[00:10:00]Design patent, guys, it protects the unique appearance or design of a product. Basically, it protects the shape, pattern, or style of the product, not how it works, okay? Basically, it focuses on design. Now, let us try to understand the rights. First right is right to make. Guys, the patentee has the exclusive right to manufacture or produce the invention. No other person can make the invention without the permission. Right to use, guys, the patentee has the right to use the innovation or invention for personal or business purposes. Others cannot use it without the patentee's permission. Right to sell, the patentee has the exclusive right to sell the patented invention, guys. Others cannot sell it without permission. Right to license, the patentee can give permission to another person or company to use the invention, guys. This permission is called a license. Usually, the patentee receives the money or royalty in return. Right to transfer, the patentee can transfer or assign the patent to another person or company. After the transfer, the new owner gets all the legal rights over the patent, okay? It is to prevent unauthorized use.

[00:11:10]Basically, if someone copies or uses the innovation without permission, the patentee has the right to stop that person. Like, it will help to protect the invention from illegal use. Right to sue for infringement, guys, if anyone uses, makes, or sells the patented invention without permission, the patentee can file a case in the court, okay? So, yes, these are the types and rights of the patentee. Now, the last question is what is copyright? Explain copyright infringement. Guys, before getting into this question, let me say you all already 100% exam-oriented notes are available. If you want those notes to score O grade in business law subject examination, message me on my Instagram.

[00:11:52]Guys, question number four is what is copyright? Explain copyright infringement. What is copyright, guys? A copyright is a legal right given to the creator of an original work. Basically, it protects creative works, guys, right?

[00:12:05]Like books, songs, movies, paintings, photographs, computer softwares, and other original creations. Basically, the creator gets the exclusive right to copy, publish, distribute, or sell the work. No one else can use the work without the creator's permission, guys. For example, if an author writes a book, no one can print or sell that book without the author's permission. That is copyright. Now, let us talk about the features. First, it protects original works, guys. Copyright protects original creative works. Like the work should be created by the author or creator, and it should not be copied from someone else.

[00:12:45]It gives exclusive rights, guys. The creator can copy, publish, sell, or allow others to use the work. Without permission, no one else can use it.

[00:12:56]Creative works protection, guys.

[00:12:58]Copyright protects many types of creative works such as books, music, films, paintings, photographs, softwares, and other artistic works.

[00:13:06]Encourages creativity. When creators know that their work is legally protected, they are encouraged to create more new ideas and original work. These are the features. Now, let us try to understand copyright infringement. It means using, copying, or distributing a copyrighted work without the permission of the copyright owner. Guys, in simple words, when someone uses another person's original work without legal permission, it is called copyright infringement. Let us try to understand acts, guys. Unauthorized reproduction, copying a copyrighted work without permission is called unauthorized reproduction, guys. For example, making copies of a book without the author's permission. Publication, so publishing someone else's copyrighted work without permission is also copyright infringement. Distribution, selling, sharing, or distributing copyrighted material without permission is also illegal, guys.

[00:13:59]Then pirated copies, making or selling fake copies of books, movies, music, or software without permission is also copyright infringement. Unauthorized translation or adaptation, translating a book into another language or changing it into another form without creator's permission is also copyright infringement. Then we have public performance, performing copyrighted songs, movies, or plays in public without permission is also an act of copyright infringement. So these are acts, guys. Now let us try to understand the remedies. Do not worry, all these subheadings with their easy explanation answers and example examples are already included in my notes. If you want those notes, you message me on my Instagram.

[00:14:43]First we have injunction, guys. The court may order the person to stop using or copying the copyrighted work immediately. Damages or compensation, the copyright owner can claim compensation for the financial loss caused by the infringement. Infringing copies, guys. The court may order the re-seizure or destruction of pirated or illegal copies of the copyrighted work. Criminal punishment, guys. In serious cases, the person who infringes copyright may face criminal punishment such as a fine or imprisonment according to the law. Okay, so yes, this was a complete explanation of unit number three. How was the explanation? Do let me know in the comment section. If you are having any doubts, do let me know in the comment section. For 100% exam-oriented notes, message me on my Instagram. Join our Telegram channel for important updates. Check out our playlist for all explanation videos. If you're having any doubts, do let me know in the comment section. All the very best. All the links are available in this video description. Do check it out.

[00:15:41]Bye-bye.