What’s in the news?
- To protect and promote Intellectual Property Rights (IPR) of Startups and to encourage innovation and creativity among them, Government of India had launched a Scheme for facilitating Start-Ups Intellectual Property Protection (SIPP) in 2016.
- The scheme facilitated startups in filing and processing of their patent, design or trademark application through the assistance of IP Facilitators, whose fee was borne by the Office of the Controller General of Patents Designs and Trademarks, Department for Promotion of Industry and Internal Trade, Government of India.
- After its successful implementation resulting in a significant increase in IP fillings by Startups the Scheme was extended for a period of three years till 31st March 2023.
- To further encourage the IP facilitators to provide quality services to Startups in order to increase the number of IP Applications filed by startups, the scheme has now been revised and facilitation fees has been notably increased by at least 100%.
- In addition to above scheme, IP filling by startups are also encouraged by providing with fee rebates under respective IP legislations.
- Startups are provided 80% fee rebate in filing patent applications and 50% fee rebate in filling trademark application. In addition, there are also provisions for fast-track examination of patent applications.
- The revised fee structure will further augment the filing of IP applications by the Startups through the assistance of IP facilitators offering effective and quality service.