Agressive Measures By Companies And Firms To Tackle The Menace Created By Counterfeit.
A recent spurge has been seen in increase in the number of suits being filed by companies against the misuse of their IPR irrespective of their sizes. Multinational giants, to small firms all are facing the hard realty of their IPR being copied by small time traders. This is mainly due to the crores of losses faced by industries in view of counterfeit products in the market.
Various verticals and industries have experienced in the field of pharmaceuticals, FMCG, Software and so on. Recently, a multinational giant has reported about their increase in the average weekly filings of two case of violation of its IPR signalling a vigorous attempt to crack down on counterfeit products that misuse identical logos and packaging. The misuse has such a devastating effect that, such products are sold at cut throat prices to the consumers.
The strategies have varied from industry to industry depending upon their size of deep pockets among many other factors. It includes adopting regular vigilance of their brand/s to sending "cease and desist notices", filing oppositions and challenging the applications against the grant, filing suits and many others. High Courts across India has seen a recent spurge in the cases of suits related to IPR. Many landmark and historical judgement by the Supreme court in matters pertaining to IPR has also been a hope for justice.
Recently, a multinational company has taken prompt legal action and filed suits in High court alleging trademark violation.
The time has come whereby the industry captains, IPR Attorneys, Consumer associations and authorities come together to bring improvements in the existing IP laws so that such menace can be stopped at the very basic level.
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