Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Arbitrary trademark
see trademark.
Aunt jemima doctrine. Trademarks
the principle that a trademark is protected not only from an act of direct copying, but also from the use of any similar mark that would likely make a buyer think that the item bearing the similar mark comes from the same source as the trademarked item. Aunt jemima mills co. V. Rigney & co., 247 f. 407 (2d cir. 1917); 15 usca § 1114.
Chicago Board of Trade
The commodities exchange where futures contracts in a large number of agricultural products are made. -Abbr. CBT; CBOT.
Countertrade
A type of international trade in which purchases made by an importing nation are linked to offsetting purchases made by the exporting nation. "Countertrade is barter in modern clothes. It developed rapidly as a form of doing business with the USSR and Eastern European nations in the 1970s and 1980s, before the major economic and political reforms tended to diminish its emphasis as a means of doing business." Ralph H. Folsom & Michael W. Gordon, International Business Transactions § 2.1, at 46 (1995).
Court of International Trade, U.S
See UNITED STATES COURT OF INTERNATIONAL TRADE.
Court of International Trade.
See UNITED STATES COURT OF INTERNATIONAL TRADE.
Federal Trade Commission
The independent regulatory agency created in 1914 to enforce the antitrust laws and other prohibitions against false, deceptive, and unfair advertising or trade practices. - Abbr. FTC.
General Agreement on Tariffs and Trade
A multiparty international agreement - signed originally in 1948 - that promotes international trade by lowering import duties and providing equal access to markets. ( More than 130 nations are parties to the agreement. - Abbr. GATT.
North American Free Trade Agreement
A trilateral treaty - entered into on January 1, 1994 between the United States, Canada, and Mexico - that phases out all tariffs and eliminates many nontariff barriers (such as quotas) inhibiting the free trade of goods between the participating nations. - Abbr. NAFTA.
Patent and Trademark Office
The Department of Commerce agency that examines patent and trademark applications, issues patents, registers trademarks, and furnishes patent and trademark information and services to the public. - Abbr. PTO.
Trade
n. 1. The business of buying and selling or bartering goods or services; COMMERCE.
Trade association
an association of business organizations having similar concerns and engaged in similar fields, formed for mutual protection, the interchange of ideas and statistics, and the establishment and maintenance of industry standards. 0 a trade association may be composed of members of a single industry (e.g., the chemical manufacturers association) or members having a common interest or purpose (e.g., the consumer mortgage coalition). Among the joint actions that a trade association often takes are collecting industry data, advertising, marketing, and engaging in public relations and government relations.
Trademark
n. 1. A word, phrase, logo, or other graphic symbol used by a manufacturer or seller to distinguish its product or products from those of others. ( The main purpose of a trademark is to guarantee a product's genuineness. In effect, the trademark is the commercial substitute for one's signature. To receive federal protection, a trademark must be (1) distinctive rather than merely descriptive, (2) affixed to a product that is actually sold in the marketplace, and (3) registered with the U.S. Patent and Trademark Office. In its broadest sense, the term trademark includes a servicemark. -Often shortened to mark. Cf. SERVICEMARK. 2. The body of law dealing with how businesses distinctively identify their products. See LANHAM ACT. "The protection of trade-marks is the law's recognition of the psychological function of symbols. If it is true that we live by symbols, it is no less true that we purchase goods by them. A trade-mark is a merchandising shortcut which induces a purchaser to select what he wants, or what he has been led to believe he wants. The owner of a mark exploits this human propensity by making every effort to impregnate the atmosphere of the market with the drawing power of a congenial symbol. Whatever the means employed, the aim is the same - to convey through the mark, in the minds of potential customers, the desirability of the commodity upon which it appears. Once this is attained, the trade-mark owner has something of value. If another poaches upon the commercial magnetism of the symbol he has created, the owner can obtain legal redress." Mishawaka Rubber & Woolen Mfg. Co. v. S.S. Kresge Co., 316 U.S. 203, 205, 62 S.Ct. 1022, 1024 (1942) (Frankfurter, J.). "A trademark functions on three different levels: as an indication of origin or ownership, as a guarantee of constancy of the quality or other characteristics of a product or service, and as a medium of advertisement. Thus, a trademark guarantees, identifies, and sells the product or service to which it refers. These three facets of a trademark - of differing importance at different times, in different lines of business and for different products or services - are somewhat correlative. The classical function, that of identification, has been primarily responsible for molding the development of trademark law. The significance of the guarantee function has been somewhat exaggerated, while the implications of the advertisement function still await full recognition in the law." 3 Rudolf Callmann, The Law of Unfair Competition, Trademarks and Monopolies § 17.01, at 2 (4th ed. 1998).
Tradename
1. A name, style, or symbol used to distinguish a company, partnership, or business (as opposed to a product or service); the name under which a business operates. ( A tradename is a means of identifying a business - or its products or services - to establish goodwill. It symbolizes the business's reputation. 2. A trademark that was not originally susceptible to exclusive appropriation but has acquired a secondary meaning. - Also termed commercial name.
Trader
1. A merchant; a retailer; one who buys goods to sell them at a ,profit. 2. One who sells goods substantially in the form in which they are bought; one who has not converted them into another form of property by skill and labor. 3. One who, as a member of a stock exchange, buys and sells securities on the exchange floor either for brokers or on his or her own account. 4. One who buys and sells commodities and commodity futures for others or for his or her own account in anticipation of a speculative profit.
Uniform Deceptive Trade Practices Act
A type of Baby FTC Act that provides monetary and injunctive relief for a variety of unfair and deceptive acts, such as false advertising and disparagement. See BABY FTC ACT.
United States Court of International Trade
A court with jurisdiction over any civil action against the United States arising from federal laws governing import transactions or the eligibility of workers, firms, and communities for adjustment assistance under the Trade Act of 1974 (19 USCA §§ 2101-2495). 0 Its exclusive jurisdiction also includes actions to recover customs duties, to recover on a customs bond, and to impose certain civil penalties for fraud or negligence. See 28 USCA §§ 1581-1584. - Also termed International Trade Court; (formerly) U.S. Customs Court.
arbitrary trademark
A trademark containing common words that do not describe or suggest any characteristic of the product to which the trademark is assigned. - Also termed arbitrary mark.
board of trade. 1.
A federation of business executives dedicated to advancing and protect-ing business interests. 2. An organization that runs a commodities exchange. See CHICAGO BOARD OF TRADE. 3. Hist. The Lords of the Committee of the Privy Council that had jurisdiction over trade and foreign plantations. Today, the responsibilities once assigned to this committee are carried out by the ministry for trade and industry.
certification trademark
See CERTIFICATION TRADEMARK.
coasting trade
Maritime law. Commerce among different coastal ports or navigable rivers of the United States, in contrast to commerce carried on between nations. - Also termed coastwise trade.
coastwise trade
See COASTING TRADE.
collective trademark
See COLLECTIVE MARK.
combination in restraint of trade
An express or tacit agreement between two car more persons or entities designed to raise prices, reduce output, or create a monopoly. combination patent. See PATENT (3).
conspiracy in restraint of trade
See RESTRAINT OF TRADE.
course of trade
See trade usage under USAGE.
descriptive trademark
See DESCRIPTIVE MARK.
fair trade
n. Commerce conducted under a fairtrade agreement.
fair-trade agreement
A commercial agreement that a seller will sell all of a producer's goods at or above a specified minimum price. Fair-trade agreements were valid until 1975, when the Consumer Goods Pricing Act .made them illegal. 15 USCA §§ 1, 45.
fanciful trademark
A trademark consisting of a made-up or coined word; a distinctive trademark or tradename having no independent meaning. ( This type of mark is considered inherently distinctive and thus protected at common law, and is eligible for trademark registration from the time of its first use. -Also termed fanciful mark; fanciful term; coined term "Arbitrary or fanciful marks convey nothing about the nature of the product except through knowledge of the market. For instance, Kodak conveys nothing about photographic equipment except to those knowledgeable about that trade." Arthur R. Miller & Michael H. Davis, Intellectual Property in a Nutshell 168 (2d ed. 1990).
free trade
n. The open and unrestricted import and export of goods without barriers, such as quotas or tariffs, other than those charged only as a revenue source, as opposed to those designed to protect domestic businesses. Cf. protective tariff under TARIFF (2
free-trade zone.
A duty-free area within a country to promote commerce, esp. transshipment and processing, without entering into the country's market. Also termed foreign trade zone; free port.
geographically descriptive trademark
See TRADEMARK.
inland trade
Trade wholly carried on within a country, as distinguished from foreign commerce.
precarious trade
See TRADE.
promise in restraint of trade
See PROMISE.
publicly traded partnership
A partnership whose interests are traded either overthe-counter or on a securities exchange. These partnerships are treated as corporations for income-tax purposes. = Abbr. PTP.
reciprocal trade agreement
An agreement between two countries providing for the exchange of goods between them at lower tariffs and better terms than exist between one of the countries and other countries.
registered trademark
A trademark that has been filed and recorded with the Patent and Trademark Office. ( A federally registered trademark is usu. marked by the symbol "(r)" so that the trademark owner can collect treble damages or the defendant's profits for an infringement. If the symbol is not used, the owner can still collect these damages or profits by proving that the defendant actually knew that the mark was registered.
restraint of trade
Antitrust. An agreement between or combination of businesses intended to eliminate competition, create a monopoly, artificially raise prices, or otherwise adversely affect the free market. ( Restraints of trade are usu. illegal, but may be declared reasonable if they are in the best interests of both the parties and the public. - Often shortened to restraint. - Also termed conspiracy in restraint of trade. See PER SE RULE; RULE OF REASON.
stock in trade
1 The inventory carried by a retail business for sale in the ordinary course of business. 2. The tools and equipment owned and used by a person engaged in a trade. 3. The equipment and other items needed to run a business.
strong trademark
See TRADEMARK,
suggestive trademark
A trademark that suggests rather than describes the particular characteristics of a product, thus requiring a consumer to use imagination to draw a conclusion about the nature of the product. ( A suggestive trademark is entitled to protection without proof of secondary meaning. See SECONDARY MEANING.
trade acceptance
See ACCEPTANCE (4).
trade agreement
1. An agreement - such as the North American Free Trade Agreement -between two or more nations concerning the buying and selling of each nation's goods. 2. See COLLECTIVE-BARGAINING AGREEMENT.
trade and commerce
Every business occupation carried on for subsistence or profit and involving the elements of bargain and sale, barter, exchange, or traffic.
trade association
See ASSOCIATION.
trade deficit
In economics, the excess of merchandise imports over merchandise exports during a specific period. - Also termed trade gap. Cf. trade surplus under SURPLUS. 2. An excess of expenditures or liabilities over revenues or assets.
trade discount
1. A discount from list price offered to all customers of a given type - for example, a discount offered by a lumber dealer to building contractors. 2. The difference between a seller's list price and the price at. which the dealer actually sells goods to the trade.
trade dispute
1. A dispute between two countries arising from tariff rates or other matters related to international commerce. 2. A dispute between an employer and employees over pay, working conditions, or other employment-related matters. 0 An employee who leaves during a trade dispute is not entitled to benefits under the Unemployment Insurance Act.