Monday, January 15, 2007

Bombay Stock Exchange [BSE] Uses IP Tools to Protect 'Sensex' [India]

The Bombay Stock Exchange Limited (BSE) lists approximately 3,500 Indian companies. The BSE Sensitive Index (Sensex) is a value-weighted index composed of the 30 most actively traded stocks. It is the benchmark index of the Indian stock market and is often used as an indicator to report the status of the financial market. It is considered as an economic barometer both in India and abroad. For this reason, the BSE is protective of its brands, such as Sensex.

The BSE has applied to the controller of patents, designs and trademarks to protect its brands, website and logo. The BSE has already registered the mark SENSEX and the accompanying logo in the United States. In India, the BSE is following the example set by the National Stock Exchange, which has already registered the mark NIFTY, as used in the name of its value-weighted index, the S&P CNX Nifty.

Once trademark protection is awarded, any party launching a product or scheme using the BSE Sensex may have to pay a fee to the BSE. The IP protection will ensure that no party can use the name without the BSE's permission and that the BSE can charge royalties or fees for such use. Recently, Barclays launched the Sensex-based Exchange Traded Fund on the Hong Kong Stock Exchange, which has generated a good response. Therefore, it is likely that the IP protection of the word 'Sensex' will generate revenue for the BSE.

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