Effects of Guaranty between the Debtor and the Guarantor . . . . . . . . . . . . . . . . 161 Effects of Guaranty as Between Co-Guarantors. . . . . . . . . . . . . . . . . . . . . . . . . . . 163 Suretyship vs. Guaranty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 164 Extinguishment of Guaranty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 167 LegalandJudicialBonds.............................................. 169
CHAPTER 4: PERSONAL PROPERTY SECURITY ACT (REPUBLIC ACT NO. 11057)
172
Creation of Security Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 173 PerfectionofSecurityInterest......................................... 176 Continuity of Perfected Security Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 178 RegistrationandtheRegistry.......................................... 179 PriorityofSecurityInterest ........................................... 180 Amendment and Termination of Notice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 182 Extinguishment of Security Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 186 Enforcement of Security Interests and Secured Creditor’s Rights. . . . . . . . . . . . . 186 ExpeditedRepossessionoftheCollateral................................ 186
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 Effect of an Assignment of a Patent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 280
REGULATORY FRAMEWORK AND LEGAL ISSUES IN BUSINESS
CHAPTER 5: MORTGAGE
194
CHAPTER 2: TRADEMARKS
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 InternationallyWell-KnownMark...................................... 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 Essential Elements of an Action for Unfair Competition . . . . . . . . . . . . . . . . . . . . 304 Trade Name or Business Name ........................................ 305 CollectiveMark..................................................... 307
UNIT III SECURITIES REGULATION CODE (REPUBLIC ACT NO. 8799)
206
PowersandFunctionsoftheSEC....................................... 207 Securities That Are Required to Be Registered . . . . . . . . . . . . . . . . . . . . . . . . . . . . 211 Exempt Securities ................................................... 212 Exempt Transactions ................................................. 214 ProcedureforRegistrationofSecurities................................. 216 Prohibitions on Fraud, Manipulation, and Insider Trading. . . . . . . . . . . . . . . . . . . 218 Fraudulent Transactions .............................................. 222 ProtectionofInvestors............................................... 225 Civil Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 228 Settlements, Prescriptive Period, and Damages. . . . . . . . . . . . . . . . . . . . . . . . . . . 229
vi
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
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CHAPTER 3: COPYRIGHT
312
UNIT V INTELLECTUAL PROPERTY CODE OF THE PHILIPPINES (REPUBLIC ACT NO. 8293)
PrincipleofAutomaticProtection...................................... 313 Copyright as Distinct from Material Object . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 314 CopyrightableWorks ................................................ 315 Non-CopyrightableWorks............................................ 317 Rights of a Copyright Owner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 318 Rights of Copyright Owners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 318 Rules on Ownership of Copyright . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 320 Limitations on Copyright ............................................. 324 DoctrineofFairUse ................................................. 326 Copyright Infringement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 327 ActsofInfringement ................................................ 330
259
CHAPTER 1: PATENTS
260
vii 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 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
UNIT VI BANKING LAWS
333
CHAPTER 1: GENERAL BANKING LAW OF 2000 (REPUBLIC ACT NO. 8791)
334
Classification of Banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 334 Quasi-BanksandTrustEntities......................................... 336 Bank’sPowersandLiabilities.......................................... 337 NatureofBankFundsandDeposits .................................... 339 Organization, Administration, and Management . . . . . . . . . . . . . . . . . . . . . . . . . . 339 Grant of Loans and Security Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 341
CHAPTER 2: TRADEMARKS
285
ix
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
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