Intellectual Property is the most imperative component of the modern business.

It is acombination of copyright, trademark, design, Geographical indication, patent, industrialdesign etc which are consider as valuable assets of any company. Intellectual Property cancreate healthy competition in the market; consequently the manufacturer and traders candevelop their products more effectively.A trademark includes any word, name, symbol, or device, or any combination, used, orintended to be used, in commerce to identify and distinguish the goods of one manufactureror seller from goods manufactured or sold by others, and to indicate the source of the goods.In short, a trademark is a brand name. Trademark is a mark or symbol which is capable of distinguishing the goods or services of one from those of others. 2 India enacted the Trademarks Act 1999 and the Trademarks Rules 2002 3 to ensure adequate protection for domestic and international brand owners, in compliance with the TRIPs Agreement. The act states that a trademark includes the shape of goods, their packaging and colour combinations. Further, the Trademarks Act gives protection to well-known trademarks and provides for the registration of convention applications, for which the priority deadline is six months. The term of a trademark has been increased to 10 years, renewable upon expiration. As a measure to protect international proprietors, the Trademarks Act has defined a well known mark 4 . Further, the Trademarks Act 5 has increased the grounds on which trademark infringement can be claimed, such as likelihood of uncertainty, likelihood of dilution ordisparagement of a registered trademark, comparative advertising and spoken use. The term use has been expanded for th e purpose of ascertaining infringement. If a trademark is not 1 Student of Rajiv Gandhi National University of Law 2 Ahuja . V.K., Lexis Nexis Student Series , Law Relating to Intellectual Property Rights, ButterWorthsWadhawa, Nagpur, page no. 225 3 Effective from September 15, 2003

4 As a mark well known to a substantial segment of the public using such goods or receiving such services 5 The Trademarks Act, 1999

registered in India, a foreign trademark owner can initiate a passing-off action against thepotential infringer.The Trademarks Act provides statutory protection to well-known trademarks, which were protected under the common law. The Trademarks Act defines a well known trademark 6