Under its terms, the Olympic Delivery Authority can prevent any small business to create Olympic or Games related marks in their marketing, without prior permission.
Only the financial backers of the Games, namely official sponsors and stakeholders of the Organising Committee and the International Olympic Committee can make use of marks or associations related to the sporting event.
As a result, all attempts at 'ambush marketing' are illegal and creative designers are urged to check the banned keywords that constitute the marks, including 'London 2012' 'Olympic' and 'Olympics.'
New powers in the Act also mean the Authority can clampdown on street trading and ticket touting relating to the Olympic Games.
Seb Coe, chairman of the London Organising Committee of the Olympic Games (LOCOG) said the Bill becoming an Act of Parliament was welcome news just 9 months after the UK was awarded the event.
"The restrictions on unlawful advertising and ambush marketing are vital to LOCOG as sponsorship revenue is a key contributor to our £2billion operating budget," he said.
Without the Act, it is less likely that the Games would be hosted in a "clean advertising," as unofficial use of the logo would undermine and thereby reduce the cost of sponsorship deals.
"If unofficial organisations abuse the use of our logo, the Olympic rings and the uniqueness of the rights relating to the Games, the value of our sponsorship deals will be reduced. LOCOG would then have to look elsewhere to meet any operating shortfall."
Since his comments, the consultant Wolff Olins has been chosen to design the new logo for the Games, with a brief to creating a Games emblem and an associated corporate identity.
Sir Keith Mills, deputy chairman of LOCOG said: "The logo and brand identity of the London Games is hugely important. It is the emblem that everyone will identify with and will be used to promote the Games. It needs to be visually attractive, strong and inspirational and must be an effective tool for us to use, to raise sponsorship to help fund the Games."
The first stage in the design process involves a brand positioning exercise, looking at all the design requirements for the build up to the Games. The agency will then develop the Games emblem itself, giving consideration to how this emblem the identifying symbol of the London Games will work in a variety of different settings.
Phil Beard, marketing director of LOCOG, said the design consultant offers "the very best creative talent" and he therefore has every confidence they "will develop an inspiring, highly visual new brand identity."
Brian Boylan, chairman of Wolff Olins, responded: "We are delighted it is every consultancy's dream project one of the most prestigious we have ever been awarded. We will match LOCOG's huge ambition and plans for these Games, producing a truly inspirational brand which gets into the bloodstream of the nation and creates the new benchmark for Olympic branding."
The London 2012 logo will be launched later in 2006 or early 2007. It will be in use more prominently after the Beijing Games in 2008 and will be used extensively in the run up to and the period of the Games themselves.
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