Global as well as Indian startups will now be able to register patent in India faster and at much lower cost.
According to new rules, startups will be able to save cost on patent upto 80 per cent. The application fee for individuals and startups is Rs 8,000, on the other hand for well established and traditional companies will have to pay Rs 60,000.
Importantly, for accessing benefits related to intellectual property rights, a startup needs to procure certificate of recognition from DIPP.
To ease patent rule for the startups, the government has amended the Patent Rules 2003. Startups which are recognised under ‘Startup India Programme’ will be eligible for filing the application under the new amendment.
The DIPP will bear the cost on behest of startups and provide rebates in the statutory fee for the filing of applications.
A foreign entity, fulfilling the criteria for turnover and period of incorporation or registration as per Startup India Initiative” would be extended the patent filing benefits meant for startups, according to the notification. The development was first reported by ET Tech.
Besides aforementioned benefits, the government has allowed withdrawal of application without any fee and also allowed refunds in some cases. Currently, about 237 patent applications are pending and more than 200K applications are in the examination process.
The updated rules will permit future applicants to put applications on a fast-track mode if they select India as International Search Authority or International Preliminary Examining Authorities and file applications in the country first.