The plight of the Oil Industry

BY RIYA MANUJA

crude-oil-facts_body_CrudeOil

 

download

 

Price crash in West Texas Intermediate crude is an indicator of an extremely dislocated market. U.S. crude oil prices hit an all-time unprecedented low on Monday reaching out to just negatives. The Coronavirus pandemic is a clear trigger to cut oil demands by one third worldwide. With the West Texas Intermediate (WTI) close to its expiry date due May, the global lockdowns, travel restrictions led to the negative dip in oil prices.  It is to be believed by the Analysts that there has been a deep lack of storage capacity available at the WTI’s delivery point in Oklahoma which is also known as the ‘Pipeline Crossroads of the World’. WTI opened for trading at $18 a barrel on Sunday night and by the end of the day, it had dropped to an astounding low as -$40 a barrel.

With absolutely no virtual demand of crude oil globally, the current oil market environment has had a grave dip with significant demand destruction. With a negative rate per barrel, sellers were paying the buyers for oil, which is a situation absolutely unparalleled. The contract expiry sure led to illiquidity slashing the rate to a clear zero but the standstill of the global economy brings no demand for oil.

Lack of employees, a three-time increase in shipping costs and the sheer imbalance of the demand and supply globally impact in a continuing slash of Crude prices not fixing the oil industry policies too soon. The tight circumstances are a fair reason for a substantial loss in many industries and the crippled oil companies might eventually have to seek bankruptcy protection.

All commercial decisions from now can have vast and deferred implications. It will take a retrieval in demand to turn around the market and ultimately depending on how the health crisis unfolds. The dramatic Monday memories would still haunt the traders.

Laws governing Foreign Technical Collaborations

BY RIYA MANUJA

Small-business-in-Foreign-Collaboration

Meaning of Foreign Technical Collaboration Agreements (FTCs)

Indian company which has entered into an agreement with a foreign entity in terms of technology transfer, know-how transfer, use of patent, brand name etc, then such type of agreements are treated as Foreign Technical Collaboration (FTC)[1].

Technical collaboration is a contract whereby the developed country agrees to provide technical know-how, sophisticated machinery and any kind of technical assistance to the developing country. Technical collaboration enables to undertake research and development activities and innovation.[2] Continue reading “Laws governing Foreign Technical Collaborations”

Coronavirus strikes Real Estate

BY RIYA MANUJA

Coronavirus-impact-Will-delays-and-defaults-be-the-new-normal-in-Indian-real-estate-FB-1200x700-compressed

The epidemic of Coronavirus from Wuhan, China, and with the recent spread in India has wedged the business sentiment ruthlessly. With a dipped number of site visits due to the virus outbreak lockdown, all novel unveilings have been put at bay, all construction has come to a crashing halt as associated industries such as heavy machinery, steel and supplementary raw materials including technical construction equipment, plastic and fibre elements, solar panels, electronic equipment are deeply dependent on Chinese import.

Statistics and Intensity

With 928.38 million tons (MT) as the production capacity in 2018, China has been the largest producer of steel. India is the second-largest producer, lags relentlessly concerning the production capacity standing at 106 million tons. Very heavy reliance on China for steel and its products is a serious cause of concern for the industry amid the Coronavirus outbreak. The prices in the allied industries are certain to rise thereby increasing the cost and decreasing the profit margins since the production in China has been going down recently in the Real Estate Sector. An outstanding price pressure will be created on the metal prices globally due to the economic slowdown in China.

According to a CBRE report, the real estate decisions, construction and new launches will be delayed and restricted. However, the report hints that mainland China will be comparatively more affected by the outbreak, and the neighbouring countries might only have a temporary short-term transitory dip in business activities.

Factors like passive demand conditions, a high stock outcropping, the dominant liquidity crunch, weak affordability; already had a severe impact on the residential real estate sector. The Coronavirus outbreak is expected to further intensify the feebleness of the sector. A considerable restraint owing to the ongoing mayhem caused by COVID-19 outbreak and subsequent lockdowns shall be faced by sales and collections both. Continue reading “Coronavirus strikes Real Estate”

Research Paper: REVAMPING COMPETITION LAW IN INDIA

BY RIYA MANUJA

competition-law

 

Free competition exists inside shelters of law, custom, insurance, political approval, and carefully protected status.  ~Mason Cooley

Introduction

The fight between competitors in the market leads to competition. This surely acts positively for the consumers by multiplying the number of choices for them, by the induction of new products in the market, lower prices, and high-grade quality because of competition between businesses. Eventually, competition in the market works positively for consumers by intensifying their welfare.

Continue reading “Research Paper: REVAMPING COMPETITION LAW IN INDIA”

Travel Checklist (Assignment)

BY RIYA MANUJA

images

 

Irrespective of how often you travel, a checklist for your getaway is always vital. When your daily schedule bugs you, responsibilities burden and stress overpowers- you so need to take a break from all. Traveling is serene. Traveling in the pursuit of happiness brings so much positivity to your soul, refreshment of mindset and confidence in self. A trotter is an ardent explorer. He seeks joy from moving around and going about. Nothing is far and nothing is in reach for him. Some travel for exploration, while the rest travel for relaxation or both. Traversing domestically or internationally is only fully successful if your planning is organized.

A well-organized trip will be all about fun-filled moments and absolutely no regrets. How much ever we feel lesser the need of the smallest things, almost that important they turn out to be once left home, unpacked. Therefore, a checklist always proves to be so important.

The essentials and suddenly required stuff should always be carried with you on trips, so you never miss a moment! A checklist assists you to travel smarter and in a very orderly way by simplifying the big task of packing for tours. Any vacation requires you to be fully prepped for all the adventures and endeavors which await your way. And so, an efficient checklist assures you and your trip to be all that you want it to be!

Luggage Load
Beginning with the choice of baggage, a travel bag-pack you would not want to weigh so heavy. It is always advisable to have a carry-on bag for your essentials and the rest of your stuff in rolling luggage.

A carry-on bag will be lightweight, will save you the time of looking for essentials in the luggage lot and prevent the risk of over-packing. This bag will sling onto you all throughout and will be a go-to pack for all your frequent needs; not forgetting the waived off check-in baggage fee! Whereas, rolling luggage is full of space for your belongings.

You can stack your stuff in a neat compiled manner and saves you the burden of carrying the load as you just roll it away!

Travel Tech
While you are away for a vacation, there are bound to come some memorable moments! A camera is also useful and should be on this list. To capture and later rekindle & cherish the moments you live on that vacation, you need the camera as the captured clicks, will become your memory for life. Along with this, no one would want to forget earplugs for music, power bank/charger. The very basic but ultimately essential.

Toiletries
As important as your clothing bag is, toiletries are important too. From toothbrushes, toothpaste, deodorant to makeup and hygiene products; all should be packed in pouches the night before you leave.

Medical Supplies
To travel with a free mindset, hassle-free and obviously with you on toes – all healthy is what we want. It is necessary to never forget your routine medicines when you travel. In case of their unavailability there, it is always best to carry your own supply of medication. The medicines for unexpected discomfort like aches or nausea, fever or bad throat. It is always best to have a little med-box of your own in case of emergencies.

Travel Documents
The trip you are on is secured and assured with your travel documents. It is smart to always keep these documents with you in a very systematic manner and even their soft copies, in case lost. These briefly include your passport/visa, tickets, your personal ID, cash and plastic money, reservations, itineraries, and their electronic copies, information of the hotels and your travel insurance and emergency contact numbers/addresses.

Whole in whole, almost everything abovementioned is revolving in our minds before we leave but a drafted checklist would certain that we are carrying all that is required for no bitter experiences. After all, with a life so hectic we all deserve a bon voyage!

Website Review (Assignment)

 

download

 

BY RIYA MANUJA

Hospet.online is like a one-stop-shop for viewers. A colorful and bright website is eye-catching! Especially concerning the previous assignment, the search results of this website are quite terrific as they rank first in the long list of sites. The search engine optimization of this website has proven to be quite beneficial this way. The consolidation of different assistive tools like news, tourism, opportunities, ads for sale/purchase and
weather reports is the most likable part of this exhaustive website. I looked through the entire site, switched to all widgets available and am of the view that the website shows a clear vision. Nothing, available for the numerous viewers is ambiguous. With just a few clicks, the viewers get the exactly promised sub-window which makes the website more approachable.

Talking about the Hospet. an online family that not only involves this site’s audience but also the beautiful Facebook and Instagram handles and their followers. I went through these pages and I sight clever networking. According to my view, a website like Hospet.online is wholesome but its availability on GenY platforms like Facebook and Instagram with surreal tourism pictures and most appropriate hashtags for maximum reach is absolutely commendable!

Well, there isn’t certainly anything to dislike about the site, but I do have some suggestions which include; adding more descriptive tourism posts on handles since they attract the most traffic to the site. Secondly, I suggest for removal of unnecessary advertisements for buying and selling; as they bring no good. And also the jobs section has opportunities but all 7 months old and not updated, which might discourage the aspirants. And lastly, the news should be better put up as stories on IG instead of uploading them as posts, unlike landmark judgments. I strongly feel these little changes would prove to be the icing on the cake!

Research Paper: Patenting Artificial Intelligence- Legal Implications

BY RIYA MANUJA

legal-artificial-intelligence

 

Success in creating AI would be the biggest event in human history. Unfortunately, it might also be the last, unless we learn how to avoid the risks. “                                                                                                                                                                                            ~ Stephen Hawking

ABSTRACT

Artificial intelligence is the fastest spreading digital system in today’s world and is rapidly becoming part of our lives. Artificial intelligence will revolutionize how we work, study, and communicate. Amalgamating Artificial Intelligence and the patent will protect and encourage human inventions and activities. The indispensable role of intellectual property is the sine qua non in the technological evolution of the nation. It brings forth challenges to the concepts of intellectual property rights to safeguard and protect rapidly growing Artificial Intelligence inventions in this tech-savvy environment.  This essay endeavors to provide insight into the reach of patent laws in Artificial Intelligence, development in patenting Artificial Intelligence and what will be legal implications of patenting Artificial Intelligence.

 

  • INTRODUCTION

INTELLECTUAL PROPERTY

It is the creative work of the human intellect. The main motivation for its protection is to promote the progress of science and technology, arts, literature, and other creative work. The economic and technological development of a country will halt if no protection is given to intellectual property rights. The contribution of intellectual property rights is the sine qua non for the industrial and economic development of the nation. Intellectual property relates to pieces of information which can be incorporated intangible objects at the same time in an unlimited number of copies anywhere in the world. According to Article 2(viii) of the convention establishing the world intellectual property organization (WIPO), 1967 says that intellectual property right relates to:

  • Literary, artistic, and scientific work
  • Performance of performing artists, phonograms, and broadcasts.
  • Inventions in all fields of human endeavors.
  • Scientific discoveries.
  • Industrial designs
  • Trademark, service marks, commercial names and designation[1].

AI1

ARTIFICIAL INTELLIGENCE

It is the branch of computer science which is used to design intelligent computers, which intelligence like humans which includes learning, reasoning, knowledge gaining, discovering new things, scheduling, and planning and searching.  With the development of modern science, Artificial Intelligence has taken a major direction into psychological research into human behavior and thoughts and it is making computer systems more sophisticated. The niche areas of research in Artificial Intelligence are pattern recognition, information processing, and medical diagnosis. In Artificial Intelligence computer systems are created to understand the language, speech, written or spoken information to produce answers to specific problems and creating games or creating computer systems playing games more intelligently than humans. Artificial Intelligence can be used in a variety of perspectives[2]:

Firstly, the business perspective Artificial Intelligence provides very powerful tools and methods for solving problems related to business and

Secondly, the programming perspective Artificial Intelligence includes studying symbols, solving problems, searching through different techniques.

These are the most popular examples of Artificial Intelligence that are used in our day-to-day life- Apple’s Siri, Amazon’s Alexa, Tesla’s self-driving cars, Google’s Google Assistant, Artificial Intelligence cameras, security purposes, and etc[3].
Continue reading “Research Paper: Patenting Artificial Intelligence- Legal Implications”

SOCIOLOGICAL SCHOOL OF JURISPRUDENCE

 

By Riya Manuja

Introduction

Law is a social phenomenon and so the Sociological School of Jurisprudence emerged by synthesizing various juristic thoughts. To study the effect of society and law on each other is the main concern of Sociological School. Law is treated as an instrument of social progress. Rules and law originated from the old customs in practice which had the social sanction. Later, came the supremacy of King and priest. King was considered as Lord and his word was God’s word. Priests were scholars and emphasized on the caste system.

Later, eventually, the welfare of society and also importance to individual interest was given to maintain the balance. The subject matter of Sociological School is society and its origin, development, and role. The study of society, its evolution, changes and dynamic nature is a primary part of Sociological ideology. The School advocates that law is a social phenomenon because it has a major impact on society. It establishes a relationship between law and society, which are directly and indirectly related.

In the words of Ehrlich, “At the present as well as at any there time, the center of gravity of legal development lies not in legislation, nor in the juristic decision, but in society itself.”

Sati, for example, has two aspects, social and legal like every other problem. Hence, to reach for the solution the relationship between law and society shall be looked upon. Sati was the ancient practice of the society, of burning the widow on her husband’s death and the Sati Pratha has now been banned under the Prevention of Sati Act, 1987 making Sati illegal.

The most important characteristic of our age is the sociological approach to study the law. The jurists which are associated with this school are not concerned not with abstract content but with the working of the law. The law is considered as a social phenomenon is the exponent of this School. A term coined by Roscoe Pound an American Jurist which is Sociological Jurisprudence as he describes the approach he takes for understanding the concept of law. He has had a philosophical approach to law and so he stressed and focused on many legal institutions and also their social effects, their practices, and doctrines.

Categorically, there are four different schools of thought in Sociology which are:

  • Symbolic Interactionism
  • Structure Functionalism
  • Feminism
  • Conflict Theory

Applied Sociology of Law

It is this term, Applied Sociology which describes the use of sociological theories and methodology by practitioners not of academic settings with the goal of producing a positive social change through active intervention.

Continue reading “SOCIOLOGICAL SCHOOL OF JURISPRUDENCE”

HISTORICAL SCHOOL OF JURISPRUDENCE

Schools-of-jurisprudence-1-770x441

By Riya Manuja

Introduction

Jurisprudence is the theory and study of law. Law has a very complex but dynamic concept and so its comprehension and apprehension vary from mind to mind.

Historical school of jurisprudence was founded by Friedrich Karl von Savigny (1779-1861). The school strongly believes that law has been generated from a long historical development of the society. Law is believed to have been originated from old social customs, traditions, conventions, principles, religious guidelines, human relationships and the economic needs of the society.

Law, as to how it is believed to be the outcome of past years and as they evolved, so has the law. It has been deeply impacted by the forces of the past. The law is historically influenced and is shaped through all these years of development and dealt with societal changes. It is based on the general consciousness of people and which had begun with the origination of the society.

The ideology of law not been made but actually founded and therefore the law should be according to the changing needs of the people as it is formulated for the people and by the people.

The emergence of the Historical School of Jurisprudence

Habits, traditions, and customs are the main sources of law according to the Historical School of Jurisprudence. The reasons for the emergence of this school are:

  • In reaction to the Natural School of Law who believed that the law has originated from some divine power.
  • In opposition to the ideology of the Analytical School of Jurisprudence with positive law as subject matter.

Jurists

Friedrich Karl von Savigny (1779-1861), Georg Friedrich Puchta (1798-1846) and Sir Henry Maine (1882-1888) were important jurists of the Historical School of Jurisprudence. These jurists gave the foundation to the Historical School and also made marked contributions.

Juristic Views

  1. Friedrich Karl von Savigny (1779-1861)

Savigny is regarded as the father of the Historical School of Jurisprudence. The legal system usually faces failure to understand its history and origin, he argued. According to Savigny, “The law is a product of times, the germ of which like the germ of State, exists in the nature of men as being made for society and which develops from this germ various forms, according to the environing influences which play upon it.

It was believed by Savigny that the law cannot be borrowed from outside. If the law is made for the people then the source of the same shall also be the consciousness of people.

The law and people are a part of society and therefore these should simultaneously grow with the development of society. He believed that the law of state grew with the strengthening of the state and law loses its essence and fades away when nationality loosens its strength in State.

Continue reading “HISTORICAL SCHOOL OF JURISPRUDENCE”