The new Trade Marks bill, which is likely to be introduced in the winter session of Parliament, is part of four bills the government is planning to legislate to strengthen intellectual property rights (IPRs) regime in the country.

The Cabinet also cleared Mahanagar Telephone Nigam's stock offer scheme for employees, Hindustan Copper Limited (HCL) disinvestment strategy and Mines and Minerals Act amendment.

Briefing newspersons after the meeting, an official spokesperson said the Trade Marks bill proposes to introduce a system of penalities for trade marks violations. Along with Patents (Amendments) bill, Designs Bill and Geographical Indications bill, the new Trade Marks bill is aimed at strengthening the IPR regime and make it simpler, more flexible and more effective, the spokesperson said. The four legislations would enable India to discharge its commitments under the trade related intellectual property rights (TRIPS) agreement under World Trade Organisation (WTO), the spokesperson said.

As per the MTNL offer, 200 shares of the face value of Rs 10 each would be offered to every employee at Rs 146 per share, a discount of over 20 per cent to market price. The spokesperson said the offer has been made with a view to boost the employees' morale and improving industrial relations.

Under the disinvestment strategy for HCL, a new company would be formed in which 51 per cent shares would be held by a strategic partner to be selected by a global advisor who will be appointed by an inter-ministerial group to be constituted for the purpose. It is also proposed that a voluntary retirement scheme (VRS) be introduced in the company.

The proposed amendments to the Mines and Minerals (Regulation & Development) Act, 1957, aim at giving more powers to the state governments for development of mines and making the law more effective and development-oriented.

The act lays down the legal framework for regulation and development of all minerals other than petroleum and natural gas.