Patent Laws in India: What Startups Need To Know
By Team Legistify / 2017-03-16
There is a close link between Industry (creation), Trade (marketing) & IPR (protection). Intellectual property rights (IPR) is instrumental in encouraging and nurturing creativity and innovation for technological developments and commercialization of developed technologies. A healthy and convenient Patent regime in compliance with international standards can be a boom for entrepreneur while in contrast, regressive laws can mean bust for businesses.

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The Indian government has availed benefits for the start-up community by amending the patent rules in the country. It has introduced expedite services for patent registrations in the country.

With this, start-ups from all across the world will now be able to register patents in India at lower costs under a ‘tatkal’ (instant) option. The government said that the patents will be granted within two and a half to one and a half years, instead of the existing five to seven years. These benefits will also be extended to the start-ups who file their first application in India.

New Rules- New Regime for Patents

Startups from the world over will now be able to register a Patent in India faster and at much lower costs under a 'tatkal (instant)' option offered under the latest amended patent rules. These benefits will also be available to entities that file their first application in India.

India has introduced expedited services for patent registration and also included the definition of 'startup' in the patent rules to pass on special benefits. The amended rules seek to cut the time period for grant of patents from five-seven years to two and a half years immediately and one and a half years by March 2018. In a bif to encourage domestic filings- 'Startups' have been qualified as "individual persons" instead of companies in amended rules.

SIPP

There is a close link between Industry (creation), Trade (marketing) & IPR (protection). Intellectual property rights (IPR) is instrumental in encouraging and nurturing creativity and innovation for technological developments and commercialization of developed technologies. A healthy and convenient Patent regime in compliance with international standards can be a boom for entrepreneur while in contrast, regressive laws can mean bust for businesses.

Have a Legal Issue?

Get connected to the Best Lawyers and Chartered Accountants Near You!


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