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Key Business Law Provisions
The following are some of the most important Business Law Provisions companies should be aware of when doing business with India.
- Indian Contract Act, 1872
The fundamental principles are very similar to U.S. contract law and include such requirements as offer, acceptance, consideration and privities of contract. - Companies Act, 1956, Amended 2006
This act governs entities incorporated in India or foreign entities with a physical presence in India.
Principal forms of business entities are sole proprietorships, partnerships and corporations.
Intellectual Property Protections
Signatory of the Paris Convention, the Patent Cooperation Treaty, the General Agreement on Tariffs and Trade (GATT) and the TRIPS agreement of the WTO. Although problems persist and India remains on the Special 301 Watch List, India has an ongoing dialogue with the United States on intellectual property. Key laws governing intellectual property rights in India include the following:
- Copyright Protection
India’s Copyright Act, 1957, amended 1999 – reflects the Berne Convention on Copyrights. - Trademark Protection
India’s Trade Marks Act, 1999 (effective September 2003) replaced Trade and Merchandise Marks Act of 1958. - Patent Protection
Patents are governed by India’s Patents Act, 1970, which was amended in 2005. - Industrial Designs Protection
The Designs Act, 2000 protects industrial designs in India.
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