What will you become when you buy stocks and shares in a business?
A owner of the company/shareholder
What is the Ontario Securities Commission?
The regulatory body responsible for overseeing Ontario’s capital markets, which include equities, fixed income and derivatives markets.
- Self-funded Crown corporation accountable to the Ontario Legislature through the Minister of Finance.
- They are the “public watchdogs”, watching for fraudulent actions
Which Act provides the OSC with power to recognize self-regulatory organizations?
The Securities Act (Ontario) provides the OSC with the power to recognize self-regulatory organizations.
What is a Savings Bond?
A loan to a government that is secured by the general credit and taxation powers of the government (very low risk)
Name and define 2 different kinds of shares?
Common Share - A share that has voting rights
Preferred Share - A share that pays a fixed dividend
Define a Restricted Voting-Share.
A share that has restricted or no voting rights
What is a Prospectus required for?
Required to be prepared and filed in order to become IPO (going public)
What is the length of protection for trade-marks?
Trade-mark registration also gives you the exclusive right to use the mark across Canada for 15 years. Registration is renewable every 15 years after that.
Define Patent Infringement.
- Patent infringement happens if someone makes, uses, or sells your patented item without your permission in a country that has granted you a patent, during the term of the patent.
- This is an authorized use of the patent
- Based on the language of the claims, a determination is made of the essential elements of the claims. If all of the essential elements of a claim are present in an unauthorized use, there is infringement
What was the importance of the Hyundai v Hyundai case?
Two companies had too similar of names related to their wares and services of the business.
- Displayed the confusion in the market that exists when conducting similar business.
What is the fee to file a patent application?
??
What is all included in a patent application?
- Petition - formal request for a patent
- Description - must state how the invention works and how its made
- Abstract - short technical summary of invention.
- Claim - form the legal basis for protection
- Drawings - must be legible and labeled; and
- The filing fee
What is a trademark?
A word (or words), a design, or a combination of these, used to identify the goods or services of one person or organization.
What are the different types of trade-marks?
- Ordinary or Classic Marks
- Service Marks
- Distinguishing guise
- Certification Marks
- Prohibited Marks
What are the powers and objectives of the Ontario Securities Commission.
They administer and enforce the provincial Securities Act and the Commodity Futures Act, and administers certain provisions of the Business Corporations Act. This legislation sets out the OSC’s authority to develop and enforce rules that help safeguard investors, deter misconduct and foster fair and efficient capital markets and confidence in the markets.
- OSC are the “public watchdogs”, watching for fraudulent actions
Define Ordinary or Classic Marks.
Consists of words, sounds, designs, or a combination of these, used to distinguish the goods or services of one person or organization from those of others in the marketplace.
Define Distinguishing guise.
Comprises the shaping of goods or their containers, or a mode of wrapping or packaging goods, which distinguishes them as being produced by a specific individual or firm.
Define Certification Marks.
Used by an individual or organization and licensed to others for the purpose of identifying goods or services that meet a defined standard.
What is Intellectual Property?
- Allows people to own their creativity and innovation in the same way that they can own physical property
- The owner of IP can control and be rewarded for its use, and this encourages further innovation and creativity to the benefit of us all.
What is the term for exclusive rights of patents?
- The Patent Act provides exclusive rights granted by the Gov. to an inventor for a limited period of time
- 20 years!
What is the term for exclusive rights for trademarks?
- 15 years!
What is the term for exclusive rights for copyrights?
- 50 years after death in December
What is the process of filing a trademark?
- The application – main document in the registration process. (If you fail to prosecute your application, it may be considered abandoned.)
- The examination process – When the Office of the Registrar of Trade-marks receives your application, examiners conduct a thorough search of their records and examines it for compliance. The trade-marks examiner assigned to your file then reviews the search results and decides whether your application can be approved.
- If there is no opposition, or if an opposition has been decided in your favour, the application will be allowed. You will receive a notice of allowance and asked to pay the prescribed registration fee.
- The final step is for the Office to issue a certificate of registration and enter the trade-mark in the Register of Trade-marks.
What is included in a trade-mark application?
- The name and address of the applicant
- A drawing of the trade-mark,
- Either a statement indicating intention to use a certain trade-mark and how that use will occur;
or the date of first use of the trade-mark in Canada, whichever is applicable, and - The application fee
