Smallbusiness
Start-ups from all over the world will now be able to register their patents in India at a faster rate and for much lower costs, thanks to a 'tatkal (instant)' option that the government is offering under its latest amended patent rules.
These benefits will also be available to entities who would be filing their first application in India.
As reported yesterday, India has changed the rules for patent registration, also including the definition of 'start-up' in the patent rules so that special benefits can be passed on to the start-ups. As per the amended rules, the time period for granting patents has been reduced from 5-7 years to 2.5 years immediately and would further be reduced to 1.5 years by March 2018.
"We want to encourage domestic filings," said Rajiv Aggarwal, joint secretary of DIPP.
Talking of start-ups, they have been qualified as "individual persons" rather than companies, so that patent fees can come down and make them eligible for 80% rebate, according to the start-up action plan.
For ‘tatkal’ scheme, start-ups will have to pay Rs 8,000 while for companies it is about Rs 60,000.
Not only this, amended rules also hint at refund of patent fees for the first time. When an application is withdrawn and there is no need for the request for examination, 90% of the amount would be reimbursed.
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