Regulatory Framework and Legal Issues in Business
Prohibitions on Fraud, Manipulation, and Insider Trading. . . . . . . . . . . . . . . . . . . 218 Fraudulent Transactions .............................................. 222 ProtectionofInvestors............................................... 225 Civil Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 228 Settlements, Prescriptive Period, and Damages. . . . . . . . . . . . . . . . . . . . . . . . . . . 229
Essential Elements of an Action for Unfair Competition . . . . . . . . . . . . . . . . . . . . 304 Trade Name or Business Name ........................................ 305 CollectiveMark..................................................... 307
CHAPTER 3: COPYRIGHT
312
PrincipleofAutomaticProtection...................................... 313 Copyright as Distinct from Material Object . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 314 CopyrightableWorks ................................................ 315 Non-CopyrightableWorks............................................ 317 RightsofaCopyrightOwner .......................................... 318 Rights of Copyright Owners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 318 Rules on Ownership of Copyright . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 320 Limitations on Copyright ............................................. 324 DoctrineofFairUse ................................................. 326 Copyright Infringement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 327 ActsofInfringement ................................................ 330
UNIT IV CODES OF CORPORATE GOVERNANCE
234
LESSON I: CODE OF CORPORATE GOVERNANCE FOR PUBLICLY LISTED COMPANIES ................................ 238 LESSON II: CODE OF CORPORATE GOVERNANCE FOR PUBLIC COMPANIES AND REGISTERED ISSUERS ................. 248
UNIT V INTELLECTUAL PROPERTY CODE OF THE PHILIPPINES (REPUBLIC ACT NO. 8293)
259
CHAPTER 1: PATENTS
UNIT VI BANKING LAWS
260
vii RightsConferredbyaPatent.......................................... 271 LimitationsofPatentRights........................................... 272 Patent Infringement; Exemptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 274 Tests in Patent Infringement: Literal Infringement . . . . . . . . . . . . . . . . . . . . . . . . 276 Doctrine of Equivalents vs. Doctrine of File Wrapper Estoppel. . . . . . . . . . . . . . . 276 Remedies of the Owner of the Patent against Infringers. . . . . . . . . . . . . . . . . . . . 277 Assignment and Transmission of Rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 280 EffectofanAssignmentofaPatent .................................... 280 RightsConferredbyaPatent.......................................... 271 LimitationsofPatentRights........................................... 272 PatentInfringement;Exemptions ...................................... 274 Tests in Patent Infringement: Literal Infringement . . . . . . . . . . . . . . . . . . . . . . . . 276 Doctrine of Equivalents vs. Doctrine of File Wrapper Estoppel. . . . . . . . . . . . . . . 276 Remedies of the Owner of the Patent against Infringers. . . . . . . . . . . . . . . . . . . . 277 Assignment and Transmission of Rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 280 Effect of an Assignment of a Patent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 280 Patentable vs. Non-Patentable Inventions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 262 Novelty as Criterion for Patentability of a Product or Process . . . . . . . . . . . . . . . 264 Inventive Step as Criterion for Patentability of a Product or Process . . . . . . . . . 267 Industrial Applicability as Criterion for Patentability of a Product or Process . . . 267 First-to-FileRule .................................................... 268 Inventions Created Pursuant to a Commission. . . . . . . . . . . . . . . . . . . . . . . . . . . . 268 RightofPriority..................................................... 269 EffectivityofaPatent................................................ 269 GroundsforCancellation............................................. 269 RemedyoftheTrueandActualInventor ................................ 270
333
CHAPTER 1: GENERAL BANKING LAW OF 2000 (REPUBLIC ACT NO. 8791)
334
ClassificationofBanks ............................................... 334 Quasi-BanksandTrustEntities......................................... 336 Bank’s Powers and Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 337 NatureofBankFundsandDeposits .................................... 339 Organization, Administration, and Management . . . . . . . . . . . . . . . . . . . . . . . . . . 339 Grant of Loans and Security Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 341
CHAPTER 2: THE NEW CENTRAL BANK ACT (REPUBLIC ACT NO. 7653)
ix
349
Primary Objective and Other Responsibilities of the BSP . . . . . . . . . . . . . . . . . . . 349 Monetary Board . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 350 WhenBanksAreinDistress........................................... 350 Conservatorship .................................................... 351 Closure ............................................................ 352 Receivership ....................................................... 354 Liquidation......................................................... 357 Procedure in Liquidation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 358 Legal Tender Power .................................................. 359 RateofForeignExchange............................................. 360 Purchases and Sales of Foreign Currency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 360 Acquisition of Inconvertible Currencies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 361 ReserveRequirements............................................... 361
CHAPTER 2: TRADEMARKS CHAPTER 2:
285 285
Marks,CollectiveMarks,TradeNames.................................. 285 PurposesofTrademark............................................... 286 AcquisitionofOwnershipofMark...................................... 287 Non-RegistrableMarks............................................... 289 Rights Conferred to the Owner of a Registered Mark . . . . . . . . . . . . . . . . . . . . . . 292 Test to Determine Confusing Similarity between Marks . . . . . . . . . . . . . . . . . . . . 292 Well-Known Marks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 295 Internationally Well-Known Mark . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 296 RightsConferredbyRegistration....................................... 297 IssuanceandPublicationofCertificate.................................. 297 Duration of a Certificate of Trademark Registration . . . . . . . . . . . . . . . . . . . . . . . 297 RightsofaRegisteredMarkOwner..................................... 298 CancellationofTrademarkRegistration ................................. 299 InfringementandRemedies........................................... 300 Elements to Be Established in Trademark Infringement . . . . . . . . . . . . . . . . . . . . 301 Remedies of the Owner of the Trademark against Infringers . . . . . . . . . . . . . . . . 301 LimitationsontheActionsforInfringement.............................. 302 UnfairCompetition ................................................. 302 Marks,CollectiveMarks,TradeNames.................................. 285 PurposesofTrademark............................................... 286 AcquisitionofOwnershipofMark...................................... 287 Non-RegistrableMarks............................................... 289 Rights Conferred to the Owner of a Registered Mark . . . . . . . . . . . . . . . . . . . . . . 292 Test to Determine Confusing Similarity between Marks . . . . . . . . . . . . . . . . . . . . 292 Well-Known Marks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 295 Internationally Well-Known Mark . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 296 RightsConferredbyRegistration....................................... 297 IssuanceandPublicationofCertificate.................................. 297 Duration of a Certificate of Trademark Registration . . . . . . . . . . . . . . . . . . . . . . . 297 RightsofaRegisteredMarkOwner..................................... 298 CancellationofTrademarkRegistration ................................. 299 InfringementandRemedies........................................... 300 Elements to Be Established in Trademark Infringement . . . . . . . . . . . . . . . . . . . . 301 Remedies of the Owner of the Trademark against Infringers . . . . . . . . . . . . . . . . 301 LimitationsontheActionsforInfringement.............................. 302 UnfairCompetition ................................................. 302
CHAPTER 3: PHILIPPINE DEPOSIT INSURANCE CORPORATION LAW (REPUBLIC ACT NO. 3591, AS AMENDED)
366
Sanctions against Unsafe and Unsound Banking Practices . . . . . . . . . . . . . . . . . . 373 LiquidationunderthePDICCharter..................................... 374 Authorities of a Receiver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 375 Effects of Placement of a Bank under Liquidation . . . . . . . . . . . . . . . . . . . . . . . . . 377
CHAPTER 4: LAW ON SECRECY OF BANK DEPOSITS (REPUBLIC ACT NO. 1405, AS AMENDED)
382
Prohibited Acts ..................................................... 382 Deposits Covered . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 383
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2025 Higher Education Learning Solutions for the Business and Accountancy Program 60
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