Warning: Creating default object from empty value in /home/customer/www/lexinvent.com/public_html/wp-content/plugins/vamtam-push-menu/push-menu.php on line 103
“Attorneys” work for Free for “Start-up” companies in India - Lexinvent Pvt Ltd - IP Law Firm

 

Start-up

 

 

 

 

 

 

 

 

 

 

 

 

It is always a happy situation when your attorney works for you free-of-cost. The same is with the Indian IP Offices and you don’t have to pay your attorney fee for the services for filing and prosecution of applications for Trademarks, Patents & Industrial Designs.

In Jan & Feb 2016, when Modi Government proposed for promotion and support for Start-up Companies in India, some of the crucial steps have been discussed like

  • Start Ups will get Tax exemptions for three years and concessions on capital gains tax.
  • Total of 10,000 crore Rs. Special Fund to back startups in next four years. 2500 Crore Rs Per Year
  • Startup India Hub Will Be created – a single point of contact for interactions with the government.
  • Atal Innovation Mission (AIM) for promotion of research and development. Many New Innovation Center, Research Center and Institutes will be established.
  • 80 per cent reduction in patent filing fee and faster application mechanism to file a patent.
  • 5 lakh schools and 10 lakh students to be involved in core innovation programmes.

Further, when it comes to the Intellectual Property Protection and Promotion, Modi government has announced programs like establishment of new R&D centers, 80% reduction of fee for IP applications, involvement of students in core innovation projects & reimbursement of professional fee of attorneys who file IP applications.

In less than a month span it started taking shape in India and in April 2016 Government of Indian announced SIPP (Scheme for facilitating Startups Intellectual Property).

Indian IP Offices have prepared a list of facilitators for assisting the applications relating to Startups under the SIPP scheme. Complete professional fee as per the schedule will be paid by the Government of India (through IP offices) towards any Patent, Trademark, Design applications filed on behalf of Startup companies.

These startup companies have to bear the official fee towards these filings. Obvious this official fee will be very minimal in nature not to burden them, and may also claim 80% reduction in most cases.

With this situation, currently the application load with the Indian IP offices is expected to increase drastically. As of now India is receiving few thousands of patent applications from Indian companies every year. But with the release of burden from payment of the professional fee (to their attorneys) by the Startup companies, more and more number of Startups will show interest in filing their IP applications. Even the attorneys who are registered as facilitators are also showing interest to assist the startup companies as the Indian Government takes the guarantee of payment of their professional fee.

Accordingly, Indian IP office has released a public notice on June 08th 2016 with “Guidelines for facilitators and Startups for filing and processing applications for patents, designs and trademarks”. This notice clarifies the procedure of claiming the professional fee of the attorneys from the Indian IP offices and releasing the startup companies from paying any such fee to them.

With this, now the system of SIPP has taken full shape and now on track, where startup companies may choose the best experienced attorney in India at no-cost to them.

Write a comment:

You must be logged in to post a comment.

Copyright © 2016 - This website and its content is copyright of Lexinvent Private Limited - All rights reserved – Read Copyright Notice.