Trademark & Patent under Startup India initiative –
In India understanding of intellectual property rights (IPR) is rising quickly, and the government has acknowledged the need to promote IPR awareness and registration in its Startup India Action Plan 2016. In this article, we examine the key incentives for trademark and patent registration under the Startup India initiative, which seeks to transform intellectual property filing and registration. Startups have placed a strong emphasis on the facilitation, protection, and registration of trademarks, patents, and designs.
Importance of Trademark, Patents & Designs for Startups
Every company should consider registering its trademarks, patents, and designs since they increase its value and competitiveness. The only way for startups with little resources to succeed and take on more established companies is if they innovate and uphold their intellectual property rights. In order to make it simpler for startups to obtain, defend, and register trademarks, patents, and designs, the Startup India Action Plan specifies a variety of measures that they might undertake.
Patent Filing Fee Rebate for Startups
According to the Startup India Action Plan 2016, startups would pay 80% less for patent filing fees than other businesses, allowing them to save money in the beginning. A year of testing will take place before the filing fee reimbursement programme is expanded in light of the findings.
Fast Track Patent Application Processing
Unique inventions and businesses become much more valuable after being granted a patent. In order to enable the value of intellectual property to be appreciated and secured as soon as is practical, the government has established a fast-track review and disposal of patent registration applications under the Startup India programme.
Facilitation of Trademark, Patent, and Design Registration
The Startup India Action Plan suggests a panel of facilitators to assist with the submission of applications for the registration of patents, trademarks, and designs. The facilitators will assist Startups with advising, filing, and disposal of intellectual property registrations related to patents, trademarks, and designs in compliance with the Patent Act. Up until the IPR application is eventually denied, this involves attending hearings and addressing any resistance from outside parties.
As per Startup India Action Plan, the Central Government would fund the whole fee for any number of patents, trademarks, or designs submitted by a Startup, with the Startups only liable for the statutory charge. The facilitators would be appointed by the Controller General of Patents, Designs, and Trademarks, who would also monitor their activities.