News detail

16
Sep
2019

A mega boost to IP and Innovation…… Government proposes to reduce IP fees for MSMEs and Startups

Indian economy is fundamentally based upon it’s Intellectual Property environment. India is witnessing robust innovation during recent times and our Indian budding entrepreneurs are way ahead of their global counterparts.
With inventions becoming a regular affair, from various backgrounds/verticals, the cost of imports being reduced. Indian Government is encouraging to manufacture in India and export the same thereby encouraging the local entrepreneurs to establish, promote investment by foreigners in India, improve the market economy, enlarging the scope and boundaries of further exploration, and ultimately to be at par with the global trends.
These trendsetters and the penchants of innovations has received a boost with the news of Government’s proposal to reduce IPR tariff for MSMEs and startups. This is done by varying the fees at different levels of IP application filings by an individual, group or industry. As per the proposal, it is the patent, Design application, Geographical Indication application that will experience significant fees reduction.
Added to the above, Government has also witnesses and increase in the domestic filing of patents from 22 percent in 2013-14 to 34 percent in 2018-19. Awareness programmes for IP has also increased during the recent times. The upcoming strategies have been designed to resolve the issue of pendency in IP applications, by augmenting manpower and streamlining the procedures.
For more details and insights on IPR, call us on 25324718,9820680789. Or mail us at info@trademark.in. visit our website www.makhijaandassoicates.com.

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