Question

What are the effects of the Lanham Act on trademarks?What is the significance of trademarks on a global business market? Explain. Use examples from relevant, recent news items to support your explanation.

Answer 1

TRADEMARK

  A trademark is nothing but a terminology,slogan,or any insignia that denotes a specific product.It differentiates the particular product legally from all other products of its kind and exclusively identifies a product belonging to a specific company in order to recognize the company s ownership of the brand.Once you have trademarked your business, if someone else makes an attempt to use something similar enough to confuse customers, you have the right to legally protect yourself and stop the other party.

SIGNIFICANCE OF TRADEMARKING YOUR BUSINESS

• We will have legal recourse to stop activities like another business trying to use similar names of our product.
• Marks all your product and services as your own.
• Protect you from counterfeit products.
• Provide protection for both businesses and consumers

LANHAM ACT

In the United States,the US Patent and Trademark Office serves the function of  protection of copyrights infringements and controls the patent laws.Since 1946 the Lanham act serves as the source of trademark protection in the US.The act provides manufactures and brands a cause of action for infringement of trademark and service marks..Prior to Lanham act there was no formal system in US to protect the unique marks of business or individuals,and brand loyalty couldn t reality exist.The act also protects false advertising.Another thing was it reduced confusion among customers identifying the source of product.

Recent events;

1.IP dispute over ladder technology between Tricam industries and Wing.

The US District Court, District of Minnesota, recently awarded Tricam Industries, Inc. summary judgment on claims of false advertising under the Lanham Act and the Minnesota Deceptive Trade Practices Act brought by its competitor, Wing Enterprises.

2.Supreme Court allows patent owner to recover lost foreign profits

A new U.S. Supreme Court ruling brings welcome news to patent holders who have found their inventions infringed overseas. The Court held that plaintiffs can recover lost foreign profits generated by the unlawful shipping of U.S. parts abroad for assembly into an infringing product

3.Appellate Court Wipes Out Sturgis Trademark

The US Court of Appeals for the 8th Circuit published its opinion today, finding that a federally registered trademark for the mark Sturgis, owned by Sturgis Motorcycle Rally, Inc. (SMRI), is invalid. This is a major victory for Rushmore Photo & Gifts, the Niemann family of Rapid City, SD, and Wal-mart Stores, Inc., the defendants in this seven-year dispute over the Sturgis mark, The Court found that SMRI’s unregistered, common law trademarks “Sturgis Motorcycle Rally” and “Sturgis Rally & Races” are also invalid.

In this globalised  world the competition has increased in business arena as same as anywhere else and thus the counterfeiting ,Thus there should be proper laws to counter the fraudulent activities that hinders trade as well as consumption.Federal statutes like Lanham acts are therefore of course a relief for the business men and the consumers