Trade marks are registrable at state level and federal level in the U.S. Whenever any one wants to claim some thing as a trademark, he can use the words" TM" next to the trade mark to serve public or competitor as notice of his right over the same whether registered or not. Unregistered trademark is called common law trade mark giving right to the user who is manufacturer or seller by virtue of its use. If it is registered with the U.S. patent and Trademark Office, the symbol can be used beside the trademark and not while the application for trade mark reiteration is pending. Benefits of registering with federal agency are 1) it serves as a constructive notice throughout the country, 2) evidence that it is owned by the user, 3) invocation of federal courts jurisdictions, 4) it can be used for registration in foreign countries, and 5) if registration is field with U.S.customs which will be used for preventing entry of foreign goods infringing trademarks. (FindLaw)
The legal basis of Tempur-Basic is that ComfortStep used by Real Man Boot Company is similar to their brand name 'Comfort-step' in their goods. Though it is not registered, they are alleged to be the first ever users of the said name. However close scrutiny of the names reveals that they are not similar. There is a hyphen between the word comfort and step in the claimant's trade mark where as there is no hyphen in the defendant's trade mark. More over goods are also not the same. Whereas the claimant is using it on casual wears, defendants are using it on work boots though both are foot wears. Position would be different had the claimant registered the trade mark stating that they are using in all their goods including boots. The right over the trade mark registered or not is perpetual. Hence claimant can not succeed in their claim.
Question 2 A Describe the general duties of a director of a corporation, and the standards that a director is expected to meet in fulfilling those duties. Also describe what factors or interests you can consider in making decisions as a director.
Originally, a director was expected to act only in the interest of share holders of the corporation. But of late, it is the acting in the best interest of the corporation that has to be taken into account before considering interest of the share holders. By virtue of section 302 A.251, subd 5, other stake holders' interests have also to be kept in mind by the director. The other stake holders are corporation's bankers, creditors, Government bodies, employees, and environment. The director should be loyal to the corporation by not competing with the corporation's business. Any thing that the director is accessible to in the affairs of the corporation should not be used by the director for self-serving personal enrichment. He is expected neither to use for personal gain nor disclose matters that are confidential to outsiders and rivals. The director must notify any conflicting interest he may be involved on which the company board must decide for the director to continue with or drop it before taking director ship or before assuming any new role during his directorship. The director has the power to appoint or dismiss the CEO of the corporation and also decide his salaries. The director is responsible to declare dividends, work out strategies, and can restructure corporation's capital structure including class of share