Stock exchange major Bombay Stock Exchange (BSE) has secured image trademark for its iconic building, Phiroze Jeejeebhoy Towers located on Dalal Street in Mumbai, Maharashtra under Trade Marks Act, 1999.
- With this, Phiroze Jeejeebhoy Towers joins elite club of distinguished structures around the world that have secured trademark rights.
- Henceforth no one can use images of the Phiroze Jeejeebhoy Towers for commercial purposes without consent from BSE or paying it licensing fee.
- Violators are liable to be prosecuted under Trade Marks Act, 1999.
Facts about BSE:
- BSE’s Phiroze Jeejeebhoy Towers serves as barometer of Indian economy.
- It is a 28-floor building and was bulit in almost 10 years, completed in 1980.
- At the time of its completion, it was the tallest building in India.
- Initially it was known as BSE Towers and was later renamed after the late chairman of BSE, Sir Phiroze Jamshedji Jeejeebhoy.
- BSE was founded in 1875.
- It began as small group of brokers who functioned under a banyan tree on Dalal Street.
What is a Trademark?
- Trademark refers to a graphical representation of goods or services to make it distinguishable from others.
- It can be words, symbols, sound, colours, shape of goods, graphics representation or packaging etc.
- It protects owner against unfair competition, prevents damage to reputation of owner and consumer welfare.
- In India, trademarks are governed under Trademarks Act, 1999 ( it deals with precise nature of rights one can acquire in respect of trademarks), under aegis of Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce.
- The implementing body is Controller General of Patents, Designs and Trademarks.
Some Examples:
- Mumbai’s Taj Mahal Palace hotel was first building in India to acquire image trademark under Trademark Act of 1999 in June 2017.
- Other iconic structures (builings) in the world that have received trademarks are:
- Empire State Building
- New York, USA
- Eiffel Tower
- Paris, France
- Opera House Sydney, Australia
