TRADEMARKS by Temitope Adewoye

Most times trademarks are often mentioned in the same breath as copyright and patents though; they do sometimes apply to the same thing they are often defined by their differences. It’s important to understand how trademark law differs from other laws protecting creative works (collectively called ‘intellectual property law’; rules and benefit depends on the type of intellectual property at issue.

A trademark is a sign attached to a commodity or service to facilitate and enhance its marketing. It indicates to consumers the source and reputation of the owner of the trademark and provides the owner with an important advertising tool as well as enabling the exploitation of products.

It is important to note that while trademarks are used in reference to signs and graphical representations they may also consist of words, names, designs, letters and numerals.

The registration of a trademark is what confers an exclusive personal property right in the trademark entitling its owner (on proprietor) to remedies for infringement of use. Thus the basic objective of registering a trademark is to obtain protection against possible infringement.

The Trade Related Aspects of Intellectual property Rights (TRIPS) provides that the owner of a registered trademark has an exclusive right to prevent all third parties not having its consent from using, in the course of trade, signs for goods or services which are identical or similar to those in respect of which the trademark is registered, especially where such use would result in the likelihood of confusion.

For instance if Company ‘S’ has a registered trademark ‘S’  it has exclusive rights to ‘S’ thus no other company can make use of that sign without its consent. Ok is it possible for you to see a Coca Cola Sign on a Pepsi bottle right? No you guessed right if that should happen it would result in law suits!

Trademarks are different from Copyrights in that Trademark laws protect distinctive words, phrases, logos, symbols and any other devices used to identify and distinguish products or services in the market place. Copyright law on the other hand protects original works of expression such as fine and graphic arts, photography, software, Video, Cinema , novel etc. by ensuring that people are prevented from commercially exploiting them without the copyright owner’s permission. Copyright laws do not protect names, titles, or short phrases. That’s where trademark law comes in.

There are, however, areas where both trademark and copyright law may be used to protect different aspects of the same product. For example, copyright laws may protect the artistic aspects of a graphic or logo used by a business to identify its goods or services, while trademark may protect the graphic or logo from use by others in a confusing manner in the marketplace. Similarly, trademark laws are often used along with copyright laws to protect advertising copy. The trademark laws protect the product or service name and any slogans used in the advertising, while the copyright laws protect the additional creative written expression contained in the ad.

 

 

 

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Protect your Ideas by Temitope Adewoye

It’s really no news that we belong to an era that has been tagged the ‘information age’ our generation has more access to information more than previous generations. Understanding the role of Intellectual property cannot be underestimated. In today’s world assets no longer have to be tangible; some of the most powerful organizations on the world rely on abstract information to survive. These assets or property has to be transferable in order to capitalize on its value.

Intellectual property plays an important role in practically every sphere of living; the internet, health care, technology, entertainment, music and arts to mention a few. Basically, intellectual property allows you to own your creativity and innovation in the same way that you own your physical property like your blackberry *laughs*, laptops etc. It gives you control and you can be rewarded for its use and this encourages further innovation and creativity for the benefits of us all.

There are four main types of intellectual property accepted worldwide they are:

  • Trademarks: For brand identity of goods, services allowing distinctions between different traders.
  • Patents: For inventions of new and improved products and processes that are capable of industrial application.
  • Designs: For product appearance of the whole or a part of a product resulting from the features in particular, the lines, contours, colors, shape, texture or materials of the product itself.
  • Copyrights: For literary and artistic material, music, films, sound recordings and broadcasts including software and multimedia.

OK trust you learnt a thing or two, going forward I would be posting about intellectual property and how you too can protect your million dollar idea.

BIG,HAIRY,AUDACIOUS GOALS AID LONG TERM VISION by Temitope Adewoye

In 1915 Citibank predecessor to Citicorp had a goal to become the most powerful, the most serviceable, the most far reaching world Financial Institution that has ever being.

In the 1950’s, Sony had a goal to be the company known for changing the worldwide poor-quality image of Japanese products.

In 1990 Wal-mart had a goal to become a $125 billion Company by the year 2000.

What’s your long term plan?

Financing for Development in Africa

By Biodun Awosusi

We are really glad to nominate five brilliant young people from the network to be part of the Youth Advocacy Group for Education First, the UN Secretary-General’s Global Initiative on Education. These are dynamic young Africans working to increase access to education, improve the quality of education and foster global citizenship. They were carefully selected from the numerous request for nominations we received. We look forward to positive response from the UN Youth Advocacy Group Selection Committee.

Here is a short bio of each person in his/her words:

Adebayo Ayobami Emmanuel (Nigeria)

I am currently a 500 level Medical student of Obafemi Awolowo University, Ile-Ife, Nigeria, who is interested in contributing my quota to the process of making the world a better place to live in for the entire human race, both poor and rich.

In the year 2011, I, as the Local Organizing Chairman of the…

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Lessons on Money

WASTE IS A FINANCIAL WAIST BREAKER! INVEST!

The seed of one millionaire is ONE NAIRA! That little kiosk today has the potential of becoming a network of supermarket in future if you avoid wastage!

True wealth is not counted in millions but in pennies.
… … …
The fact that N10 is written on the note you’ve, does not make the value N10.

Its just a reference to its purchasing power. It means if you decide to spend it you can only get goods or services to the tune of ten naira.

That N10 in your hand has two value: the PURCHASING VALUE AND THE INVESTMENT VALUE.

The purchasing value of N10 is N10 But the investment value is unlimited. Like a seed, if you keep investing & reinvesting that ten naira , it could end up yielding you ten million naira.

Avoid wastage! Waste is d cankerworm of wealth. To increase your wealth, you’ve to decrease your waste. IF LITTLE DROPS OF WATER MAKE A MIGHTY OCEAN THAT MEANS A SMALL LEAK WILL SINK A GREAT SHIP!

If you sit down&calculate all the monies u spent on frivolous unprofitable things in a year, you wil be amazed at d fortune you’ve thrown away.

WASTE IS A FINANCIAL WAIST BREAKER! INVEST!
Samuel Olagbenjo

John Rockefeller

John Rockefeller is remembered by most as the best businessman in history, he was the founder Standard Oil (Exxon Mobil is the largest of its descendants).John was born in New York on 8th of July 1839, to William Avery Rockefeller and Eliza Davison Rockefeller His father William was a doctor who made money pronouncing cure for cancer by traveling from town to town using dubious selling scheme. Whereas his mother Eliza was a strict religious person who taught John to be disciplined, work and save.

By the time John was 12 in 1851, he had saved $50 working for neighbours      and raising turkeys. At the urging of his mother, he loaned a local farmer $50 at 7% interest payable in one year. When the farmer paid him back with interest the next year Rockefeller was impressed and said of it in 1904:

“The impression was gaining ground with me that it was a good thing to let the money be my servant and not make myself a slave to the money…”

His family moved to the city of Owego, New York in 1851 and John attended the Owego Academy there. In 1853, they moved to Cleveland, Ohio and John went to the public high school, graduating in 1855. During his early school years, the teachers noticed that he was excellent with numbers and able to easily computate things in his head.

In 1855, John studied for nearly three months at Folsom Commercial College in a program that taught him about everything from accounting to exchange rates. Later that year, he began looking for a job as a bookkeeper, but had great difficulty finding one. It took him nearly two months to find a job as an assistant bookkeeper at Hewitt & Tuttle, a company that shipped produce. He impressed everyone with his honesty and diligence on the job, gradually moving his way up the ladder.

In 1859, John quit his job to start a business with his friend Maurice Clark. They formed the Clark & Rockefeller Co. with $4000 of their own money and began selling grain and hay. The business was wildly successful, making a profit of $4400 the first year and $17,000 the second year. The business continued making huge profits during the Civil War, but John eventually began looking for a new industry.

In 1862, he started a business called Andrews, Clark & Company. He made the business very efficient by making it so that the business could manufacture most of the supplies it needed. In 1865, he bought out the shares owned by the Clark brothers for a price of $72,500 and gained complete control of the company. He brought his brother William into the business to formal partnership and began work expanding the business by building more refineries.

In 1867, a man named Henry Flagler joined the business, making the name Rockefeller, Andrews & Flagler. A year later, their company became the largest refiner in the world and was highly efficient. In 1870, they formed the Standard Oil Company with John owning the majority share (30%). They immediately began trying to buy out the other oil companies to make Standard Oil a massive corporation, controlling oil wells and refineries all over the country.

By 1879, Standard Oil controlled 90% of the refining in the United States and about 70% of the refined oil being exported. In 1882, the company became a trust with John controlling a significant portion of the Trust shares. However, he did not have complete control and the board of trustees was able to do things without his approval. The company continued to grow, gradually becoming a monopolistic force and nearly forcing businesses to use their oil.

In 1890, the attorney general of Ohio brought a lawsuit against the company, eventually winning in 1892. The Trust was dissolved and Standard Oil was split into twenty companies. In spite of the split, the leaders in the company remained the major shareholders in the individual companies and essentially retained control of the company.

In 1891, John’s hard work was beginning to wear him down. He became very ill quite frequently and lost all of his hair and eyebrows. He appointed a man named Frederick Gates to manage his fortune with investments and charitable contributions. In 1897 he retired at the age of 58, leaving the company under John Archbold’s control. However he did not retire officially and he received the blame when Archibold hiked prices to increase monopolistic revenue.

John’s fortune peaked at about nine hundred million dollars in 1912 and his son, John Jr., joined Frederick Gates in the effort to manage the money. He donated seventy-five million dollars to the University of Chicago, founded the Rockefeller Foundation for education, founded the Rockefeller Institute for medical research, and founded the Rockefeller Sanitary Commission.

John Rockefeller died on May 23, 1937, leaving most of his fortune to his heirs.