Business Law Presentation

1. MEMBER : GOO JIN BIN (02010) & JARED SOON (02000)
SUBJECT : LEGAL ENVIRONMENT OF BUSINESS (LAW 2203)
TITLE : CREDIT TRANSACTIONS AND INTELLECTUAL PROPERTY RIGHTS
Putra
International
College

2. INTRODUCTION
Credit transaction - Credit transaction means any transaction by the terms of which the
repayment of money loaned or loan commitment made, or payment for goods, services, or
properties sold or leased, is to be made at a future date or dates.
Intellectual property - Intellectual property rights are the rights given to persons over the
creations of their minds. They usually give the creator an exclusive right over the use of his/her
creation for a certain period of time.

3. The Elements of Credit Transaction
Credit
Transaction
Loans
Hire
Purchase
Conditional
Sales
Credit Sales
Hire and
Rental
Agreement
Pledge

4. ◦ Loan - is the most fundamental form of credit. If a loan is made a
creditor lends money toa debtor so that the debtor can buy goods
or services. The debtor agrees to repay the money, with interest,
over a period of time.
◦ Hire-purchase - Under a hire-purchase agreement, a creditor hires
goods for a fixed period and has an option to buy the goods for a
token sum at the end of that period.
◦ Conditional sales - A conditional sale is an agreement to sell under
which ownership of the goods stays with the seller until the buyer
has paid the full price for the goods. The buyer usually takes
immediate possession of the goods.

5. ◦ Credit sales - Under a credit sale, ownership of the goods passes to the
buyer immediately, and the seller extends credit to the buyer.
◦ Hire and rental agreements - A person who rents goods to another gives
possession of the goods in return for regular payments. He does not sell
or agree to sell the goods. Hire is very similar, but is usually for a
shorter period. The Consumer Credit Act applies to both hire and rental
agreements if the agreement is a regulated agreement.
◦ Pledge - A pledge is a bailment that conveys possessory title to property
owned by a debtor (the pledgor) to a creditor (the pledgee) to secure
repayment for some debt or obligation and to the mutual benefit of both
parties.

6. Consumer Credit Act 1974 and 2006
consumer credit act 1974 and 2006 - The Consumer
Credit Act 1974 (as amended by the Consumer Credit Act
2006) regulates consumer credit and consumer hire
agreements. It is the law that gives consumers protection on
purchases and sets out how credit should be marketed and
managed.

7. Consumer Credit Act 1974 and 2006
◦ Implied condition - on the part of the creditor that he will
have a right to sell the goods at the time when the property is
to pass.
◦ Implied warranty - that all charges or encumbrances known
to the creditor and not known to the person to whom the
goods are bailed or hired have been disclosed to that person
before the agreement is made.

8. Cases Example Law
◦ Dimond v Lovell (2000)
◦ Facts - A claimant sought as part of her damages for the cost of hiring a
care whilst her own was off the road after an accident caused by the
defendant. She agreed with a hire company to hire a car, but payment
was delayed until the claim was settled.
◦ Held - The arrangement was a consumer credit agreement, and since it
was not in proper form, the sums were not recoverable from the
claimant and so in turn were not recoverable either from the defendant.
The Act was intended to punish those who sought to work around it.

9. Legal Concept of Property
Legal
Concept
of
Property
Copyright
Trademark
Patents

10. Copyright
◦ Copyright refers to the legal right of the owner of intellectual
property. In simpler terms, copyright is the right to copy. This
means that the original creators of products and anyone they
give authorization to are the only ones with the exclusive
right to reproduce the work.
◦ Acquiring copyright - Section 3(2) Copyright, Designs and
Patents Act 1988 provides that copyright does not exist in a
literary, dramatic or musical work until it is recorded, in
writing or otherwise.

11. ◦ Rights of copyright owners
◦ Section 16(1) CDPA 1988 gives the copyright owner the exclusive right to:
◦ (a) copy the work;
◦ (b) issue copies of the work to the public;
◦ (c) rent or lend the work to the public;
◦ (d) perform, show or play the work in public;
◦ (e) broadcast the work or include it in a cable programme service;
◦ (f) make an adaptation of the work or do any of the above in relation to an adaptation.

12. Moral rights recognize an author's interest in controlling the
use of their creative work. They include the rights of:
 Attribution, meaning the right to be credited as the author
of a work.
 Integrity, meaning the right to control some modifications to
and destruction of a work.
Moral rights are related to but distinct from copyright, which
protects the economic interests of copyright owners. Moral
rights protect noneconomic rights of the work's creator.

13. Patents
A patent is a right granted to an inventor by the federal government that permits the inventor to
exclude others from making, selling or using the invention for a period of time. The patent system
is designed to encourage inventions that are unique and useful to society.
Patentable inventions
Section 1(1) of the Patents Act 1977 provides that a patent can only be granted for an invention if:
◦ (i) the invention is new; and
◦ (ii) it involves an inventive step; and
◦ (iii) it is capable of industrial application.

14. ◦ Property in patents - The owner of a patent has a monopoly right to
exploit it. This is the case even if it could be shown that someone else
had independently reached the same inventive step. A patent can be
licensed to another person, who may then exploit the patent without
infringing the rights of the owner. Rights are commonly granted in this
way.

15. Trademark
A trademark is any word, name, symbol, or design, or any combination thereof, used in
commerce to identify and distinguish the goods of one manufacturer or seller from those of
another and to indicate the source of the goods. The Trade Marks Act 1994 governs the law on
trade marks.
Effect of registered trade mark
(i) fixing it onto a package;
(ii) putting goods under the sign;
(iii) importing or exporting under the sign; or
(iv) using the sign on business paper or in advertising.

16. Conclusion
◦ A regulated agreement is a consumer credit agreement, or consumer hire agreement,
other than an exempt agreement. The definition of a regulated agreement is important
because most of the provisions of the Consumer Credit Act 1974 apply only to regulated
agreements. Section 56 CCA 1974 can make a supplier of goods the agent of the creditor
in some circumstances. Section 75 CCA 1974 makes a creditor liable for a
misrepresentation or breach of contract made by a supplier in some circumstances.
Copyright is concerned with protecting the expression of ideas, rather than with
protecting ideas themselves. An invention can only be patented if it is new, involves an
inventive step and is capable of industrial application. A trademark is a sign capable of
being represented graphically which can distinguish the goods or services of one
business from those of another.

17. THANK YOU !