MICROCREDIT AND BUSINESS PERFORMANCE IN NIGERIA: THE CASE OF MFI FINANCE ENTERPRISES

This paper investigates the impact of microcredit loan on business performance of Microfinance Institutions (MFI) finance microenterprises in Nigeria. A microenterprise refers to an individual business that consists of less than five employees and is generally organized as a sole proprietorship or family business. The objective of the study was to examine the effects of micro credit on several business performance criteria of MFI clients. Data for the study was derived from both primary and secondary sources. First, a survey of MFI and entrepreneur – clients were undertaken using simple random sampling technique to select our respondent, this was linked to data extracted from the records of MFI to form a panel data. The data obtained was analyzed using multiple regression analysis. The finding reveals a positive relation between microcredit and profit of the microenterprise. The study recommends a wider coverage of microfinance through effective implementation of micro-fund scheme and mandatory business related training for all micro entrepreneurs

Revisiting the Justification of Trademark Protection for Single Drug Compositions: A Critical Analysis from a Regulatory Perspective

Trademarks, which are premised on product differentiation, are alleged to play a divergent role when used on pharmaceutical products: they tend to create an artificial product differentiation for the bioequivalent pharmaceutical products that are marketed as branded, generics, and branded-generic products. It is implied that the companies incorporate trademarks to market their products to different consumers at different prices. However, concerns arise when a company uses multiple trademarks for a single active pharmaceutical ingredient (API); sometimes, the company labels each trademark as treating a different medical condition. This practice of brand proliferation may pose risks to patient safety by confusing patients and health care providers, which can lead to double dosing the drug. Simultaneously, it may also promote artificial product differentiation, allowing few companies to regulate the market for certain treatments without offering any therapeutic difference. Such differentiation is not restricted merely to the branded products, but it is also present in branded-generics, brands of the same formulation marketed by a single company. The magnitude of such differentiation has been observed by the legal scholars and regulatory authorities in different jurisdictions from consumers’ safety and the competition perspective. These pharma company practices raise questions on trademark use and regulation for medicinal products and the trademark’s consequences on consumer safety and market competition. In this context, this paper aims to analyze legal scholars’ views on the use of pharmaceutical product trademarks and the policy interventions toward regulating the use of multiple trademarks by one company for the bioequivalent medicinal products

Administrative Procedure of Trademark Enforcement in Pakistan: A Comparative Analysis with Malaysia and USA

Trademark is one of the component of Intellectual Property (IP). It is a mark, name, sign, smell or a sound which distinguishes goods and services of one undertaking from goods and services of other undertakings. It is required to be distinctive and non-descriptive. It losses its distinctiveness when registered owner of trademark does not take prompt action against its infringement. Trademark enforcement procedures including administrative procedure must be expedient, adequate, fair, equitable, and must not be complicated, costly and time consuming. Administrative procedure starts when application for trademark registration is opposed by the registered trademark owner before the concerned administrative authority. Trademark registration authorities are: (i) Trademark Registry under Intellectual Property Organization of Pakistan (IPO-Pakistan) in Pakistan, (ii) Intellectual Property Corporation of Malaysia (MyIPO) in Malaysia, and (iii) United States Patent and Trademark Office (USPTO) in United States of America (USA). The registered owner of trademark may apply before the concerned administrative authority against the registration of identical trademark by adopting administrative procedure of trademark enforcement. This study is qualitative method of research a comparative analysis of administrative procedure of trademark enforcement in Pakistan, Malaysia and USA. After a comparative analysis of administrative procedure of trademark enforcement in Pakistan, Malaysia and USA, it is found that there are only three IP Tribunals in Pakistan and there is a need of more IP Tribunals which is required to give its decision within 90 days resultantly saves time and money of the people. It is also found that there is Trademark Trial and Appeal Board at USPTO, where appeal against decision of the Registrar may be filed by the aggrieved party thus a similar kind of body is required to be established at Trademark Registry in Pakistan. Furthermore, IP experts should be hired at IP Tribunal and at Trademark Registry for smooth implementation of administrative procedure of trademark enforcement in Pakistan

WTO Regulations and the Audio-visual Sector—An Analytical Framework for Pakistan

Audio-visual services play a crucial and formative role in any society. These services are closely linked to the preservation of cultural identity and social values, and play a major role in shaping public opinion, safeguarding democratic system and developing creative potential. Due to these reasons, governments of both developed and developing countries not only provide direct and indirect incentives to their domestic industries but also strictly regulate the content of audio-visual media. During the Uruguay Round of WTO (World Trade Organisation) negotiations, audio-visual service sector witnessed limited liberalisation. Even major players such as the EU, Australia and Canada did not make any commitments to liberalise trade in these services. This was primarily to protect the domestic industries from foreign competition, promote their growth and to protect the cultural heritage of the nations from foreign influence. Many countries have repeatedly raised concerns about the capability of the GATS (General Agreement on Trade in Services) framework to take into account the democratic, cultural and social aspects. Others have explained that audio-visual sector is largely covered by domestic regulations and normal trade rules are not applicable to these services.

Does explicit comparative advertising affect Indian consumers’ attitudes towards low and high-involvement product?

YesWith increasing use of explicit comparative advertisement to get share of consumers’ mind and influence their purchase decision in western context, the same is now used extensively in emerging markets like India. However, there has not been sufficient research to understand the effectiveness of explicit comparative advertisement in low and high-involvement product categories. Therefore, the purpose of this paper is to attempt to understand the effectiveness of explicit comparative advertising on consumers’ attitude and purchase intention (PI) towards high and low-involvement products. The study carried out experimental treatments with 2 × 2 factorial design among 200 Indian young consumers who were in the age group 18-25. The independent variables were product categories and type of advertising (comparative and non-comparative) and dependent variables were consumer attitude and PIs. It was found that the comparative form of advertisement developed favourable response towards the advertisement, rather than towards the brand or PI. The study found that comparative advertising is effective for high as well as low-involvement product category in changing the consumer’s attitude towards the advertisement. The research has used print media for conducting the experiment. It can be inferred that comparisons should be supplemented with additional information in the form of the unique features and associated emotions and feeling of the product in order to develop favourable attitude towards the brand and PI. Comparative advertising is a growing domain and there has been very little contribution by the researchers specially on high and low-involvement product categories

The Use Doctrine in Trademark Law: Issues from Trade and Transborder Reputation

Mindful of the current trend within the United States to revive the focus on the use of trademark to determine a mark’s ability to act as a source indicator, in this paper I highlight how focusing on use can create disparate results by examining the role of use when dealing with well-known marks. Hence, this paper implicates the prescriptions from the harmonized trade regime, especially trademark law. In doing so, the paper outlines larger public policy concerns that will ensue especially considering the role of the use doctrine in the context of international harmonization of protection of well-known trademarks. In order to do so, this paper examines protection of foreign marks in two jurisdictions, India and the United States, to identify global public policy concerns which has national implications. The study debunks the myth that harmonization would result in trading partners extending reciprocal treatment. That is, inapposite to the touted position, this paper uses the well-known marks example to outline disparate outcomes that ensue when focusing on use as source indicator. In highlighting how harmonization has not resulted in uniformity or predictability internationally to identify and recognize well-known trademarks, this paper discusses how the lack of predictability under a harmonized system has raised strong public policy concerns as well as economic outcomes that may be detrimental to some markets but beneficial to others. Overall, this paper asserts that a coherent approach will have to necessarily involve some level of flexibilities in the trade regime to determine constituents of fame for a well-known trademark in each jurisdiction

STUDY ON THE FIDUCIARY ACCOUNTABILITY, SUSTAINABLE BUSINESS GROWTH IN THE LISTED COMPANIES AND SMEs

Purpose of study: In this study, fiduciary accountability and sustainable business growth are examined. There is an inadequate study on the fiduciary accountability of directors in which directors are accountable for their actions such as approving expenditure on innovation, which results in low profit. As such this study will look into the innovation and sustainable business growth and how the fiduciary accountability of directors moot innovation technologically, encouraging innovative knowledge through social-media among the employees, product innovation to meet customers’ needs and, ensuring sustainable business growth. Methodology: In order to have more reliability of the aforesaid a comparative study is made between one of the public listed companies and SMEs. Semi-structured interview methods are used in which open-ended questions are preferred to find out the particular areas. Results: The results show that this study has triggered academic vigour in the future because of the new concept of “fiduciary accountability”, which is introduced in this literature. Applications of this study: It has practical significance for corporations, directors, and academicians on fiduciary accountability of directors in harnessing profit to the corporation and enduring sustainable business growth. This is necessitated by the current trade restrictions. Novelty/Originality of this study: This study on fiduciary accountability in relation to sustainable business growth is not scholarly explored and any study would go a long way in academic pursuance