Abbott Healthcare and Jayaar Remedies have finally decided...
Abbott Healthcare and Jayaar Remedies have finally decided to bury the hatchet over the trademark Nervup, the medicine that prevents recurrence of neural tube defect and vitamin deficiency.
After fighting the trademark tussle at the Intellectual Appellate Board (IPAB), the companies have agreed for an amicable settlement and accordingly Jayaar Remedies has agreed to assign the Nervup mark exclusively to Abbott Healthcare.
In return, Jayaar will receive a consideration of R35 lakh for the execution of the deed of assignment.
As per the settlement, Jayaar Remedies has agreed to stop usage of its trade mark Nervup and given an undertaking not to use the trademark or any deceptive variations thereof in any manner from the date of execution of deed of assignment. The products bearing the mark Nervup lying with the Jayaar shall be handed over to counsels of Abbott.
Jayaar Remedies is a Chennai-based pharma company which has been using the Nervup mark since 1986 for its pharma products. It locked horns with Abbott over the mark citing that they were the prior user of the mark in India. Jayaar also filed for the removal of the mark from the trademark registry.
When the litigation came up at IPAB, the counsel for Abbott submitted that they were not disputing the prior use, however, it stands on a better footing on the basis of Section 33 of the Trade Marks Act, 1999, on the ground of acquiescence.
Subsequently, both the parties informed the IPAB bench that a mutual understanding of an amicable settlement between them has been arrived at, and they filed a joint compromise memo on the agreed terms, asking the bench to pass orders on the basis of the terms of compromise.
The IPAB bench of justice K N Basha, chairman, and Sanjeev Kumar Chaswal, technical member — trademarks — said that by recording the settlement arrived at between Jayaar and Abbott, the application for rectification of the mark was disposed of as withdrawn.
As per the settlement, Jayaar Remedies, will not interfere with the registrations and use of the mark Nervup or any of its extensions of Abbott and its successors. Jayaar will also not oppose or object to fresh applications or brand extensions of the trademark Nervup or similar marks of Abbott.