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Pre-Packaged Insolvency Resolution Process – The JOURNEY thus far

PRE-PACKAGED INSOLVENCY RESOLUTION PROCESS

Ms.Chinna Aswathy Abraham Associate, Litigation & Arbitration Practice Business rescue is commonly achieved by sale of the company’s assets while keeping it a going concern, in an attempt to generate more value, as opposed to selling the assets in piecemeal. This is precisely what a pre-packaged insolvency resolution mechanism seeks to achieve. In a pre-pack, “a troubled company and its creditors negotiate an agreement prior to statutory administration procedures, which allows these statutory procedures to be carried out at greater speed.”(1) “It is commonly seen as a hybrid method of corporate rescue, as it combines the advantages of private restructuring with some...

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IP NEWS WEEKLY UPDATE – 12 JAN 2022

AWS Music marks opposed by Amazon Amazon Technologies Inc. is opposing the registration of the mark “AWS MUSIC” claiming that the consumers are likely to be confused, mistaken, or deceived into believing that the goods offered under the newly applied AWS MUSIC mark are in some way endorsed by Amazon. It is also claimed by the Opponent that the company is the owner of 50 domestic registrations and pending trademark applications for its AWS Marks, covering a wide-range of goods and services and because of the company’s prior adoption and continuous use of the marks since 2002 and its substantial investment in...

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IP NEWS WEEKLY UPDATE – 04 JAN 2022

Bacardi & Co v. U.S. Patent and Trademark Office The company has sued the USPTO for allegedly violating the law by reviving a Cuban government entity's trademark "Havana Club". The legal battle between Bacardi and the Cuban entity was initiated by Bacardi and claim that they began selling Havana Club rum in the U.S. in 1995 after buying the brand. Cuba's state-run entity sells rum under the same name in other countries, but are barred from selling it in the U.S.  Cubaexports claims that they first registered the "Havana Club" trademark in the U.S. in 1976. Presently, Bacardi complains that Cubaexport...

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IP NEWS WEEKLY UPDATE – 30 DEC 2021

Kyobo Life fined for letting subsidiaries use IPs for free The insurance company holds various forms of IPs including numerous trademarks and copyrights. The company was accused of letting their subsidiaries use the Kyobo brand without paying fees from 2016 to 2019. The South Korea's financial watchdog has ordered Kyobo Life Insurance Co. to pay a fine of 350 million won for providing undue support to the subsidiaries. The action has been taken considering the economic value of the company as the unpaid fees are estimated to be billions of won. H&R Block claims trademark infringement by Square’s The tax preparation service company...

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Virtual Private Network

Virtual Private Network

Virtual Private Network or VPN allows people to browse securely via an array of encrypted services that allow masking of individual identities. Users gain access to websites that are banned or those that are available in specific countries. VPN allows two or more networks to connect. Companies can allow access to their servers by their employees to work remotely using unsecured or public internet connectivity. The VPN network is completely off radar from the internet. Businesses, government organisations, military make use of them to send and receive confidential information securely. For example, if one has a VPN connection on their home...

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IP NEWS WEEKLY UPDATE – 8 DEC 2021

UpGrad files trademark infringement suit against Scaler: A suit was filed before the Delhi HC against the EdTech company Scaler for using the brand name ‘upGrad’ through Google Ads to appear on top of the page on the Google Search Engine. The company has sought damages of more than 3 Crores. Presently, the Delhi HC has granted an ad-interim injunction in favour of upGrad and has directed Scaler to not to use upGrad’s registered marks and or its variants in relation to Google Ads Programs or any other keyword program. Brittex Financial v. Dollar Financial: The marks in dispute are MONEY MART used...

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IP NEWS WEEKLY UPDATE – 13 NOV 2021

Increase in Global IP Filings despite Economic shutdown due to the pandemic WIPO recently released its report on the annual IP filings. The reports show an increase in the filing activities especially in relation to trademark filings despite the effect of the pandemic on the economy. Most of the filing activities took place in China which continues to dominate the world in the number of filings across most forms of intellectual property. The report states that Global Trademark filings surge 13.7% despite economic shutdowns and China received the most trademark application filings during 2020 at 9.35 million filings followed by US. India’s...

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IP NEWS WEEKLY UPDATE – 8 NOV 2021

Financial incentives for certification and Intellectual Property Rights reimbursement scheme notified by the Goa government This scheme of the government is part of the State Incentives to Encourage Investments Scheme, 2017 with an object to make the existing market more competitive and efficient both at a domestic and an international level. This scheme encourages the units which are based in Goa in relation to industries, academic institutions and hospitals to obtain certification from reputed certifying agencies and the department would reimburse 100% of the actual expenditure per certification upto 8 Lakhs and a cap of 15 Lakhs has been fixed for...

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IP NEWS WEEKLY UPDATE – 26 OCT 2021

IPR News update template - 26 Oct

YouTube content strikes misuse of Copyright laws in India, claims Internet Freedom Foundation (IFF) The Indian Internet Freedom Foundation made a representation to Google India with relation to the recent rising number of YouTube Channel blocks in the country and claims that one major reason for content takedowns is due to weaponization of Copyright legislations and rules of the country by large media houses targeting individual content creators and channels. It was also stated that YouTube being one of the most primary platform of development for such individuals and channels, such measures by large media houses infringes the fundamental right to...

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