Question

In Te Tiriti o Waitangi – The Treaty of Waitangi

(a) On how the Treaty can be significant for those running or planning to run a business in New Zealand

(b) The significance of the Treaty in the field of intellectual property – trademarks.

Answer 1

Ans: Treaty of Waitangi was entered by the Maori tribe chief who had been residing there before the year 1840 and the British Crown where they have given all the rights related to land ,sea etc to the queen but due certain differences in the language interpretation there was few difference among the parties on the rights of the same and causes a differences for the the people and hampering there business.

Ans a)   As this treaty is made for transfer of the property rights and where the difference arises so because of the same it causes a concern of uncertainties on the life of the assets a company can hold or may cause a firm to pay additional compensation to the tribes which may cause a loss to the business concern. So it could cause the following :

1)Uncertainty about the rights on assets for sale and purchase.

2) Rate of depreciation will be higher in case of land and building.

3) Provision for losses needs to made at a higher rate and in turn may cause losses or stagnant firm.

4)It causes an uncertainty on the future of business .

Ans b) As far as Intellectual Property and trademark is concern, there will be no negative impact on the same as these are the assets which can not have any adverse effect on it as its not related with any land or place.