• UGI USER
  • May 27, 2024
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“TRADEMARK DISPUTE SETTLED: BHARATPE AND PHONEPE END LEGAL BATTLES”

Why in the news?

  • Fintech giants BharatPe Group and PhonePe Group have settled trademark disputes concerning the ‘Pe’ suffix, ending years of legal battles.
  • The amicable resolution puts an end to ongoing judicial proceedings and is confirmed through a joint statement by both companies.
Source:Investopedia

About Trademark:

  • A trademark is a distinctive sign that sets apart the goods or services of one business from others.
  • Protection: Governed by Intellectual Property Rights (IPR), trademarks are safeguarded under the Trade Marks Act 1999 in India, amended in 2010.
  • Differentiation: It legally distinguishes a product/service and acknowledges the owning company’s brand ownership.
  • Usage Requirement: While trademarks don’t expire, regular use is crucial for maintaining associated protections.
About Fintech:

  • Fintech stands for financial technology, integrating technology into financial services.
  • Key Segments:Digital Payments, Digital Lending, BankTech, InsurTech, RegTech, Cryptocurrency, etc.
  • It’s a thriving sector for business growth, employment, and contributes to financial inclusion goals.

Associated Article:

https://universalinstitutions.com/the-recent-report-on-local-fintech-players/

https://universalinstitutions.com/indias-growing-fintech-market/