Intellectual Property has nowadays become a strategic business tool to protect the new inventions so that no one can use, sell and license them without the prior permission of Inventor or applicant. There are eight types of Intellectual Property recognized in the TRIPS agreement which are Copyright and Related Rights, Trademarks, Geographical Indications, Industrial Designs, Patents, Layout-Designs (Topographies) of Integrated Circuits, Protection of Undisclosed Information and Control of Anti-Competitive Practices in Contractual Licences. These Intellectual Properties are the lifeline of a company whether it is a Pharmaceutical company which is combined with manufacturing sector or other sectors which include Electronics, Mechanical, and Computer.
In a country like India, where to meet the needs of the huge population, the manufacturing sector is growing at a rapid speed, and people needs to have more employment based on their qualification and interest of the area. The main idea to develop a Start-up is to work towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property. The start-up can become a lifeline of India as Indian has an enormous potential regarding great minds as well as in workforce.
The need of start-up in India is to give skilled person a chance to bring inventions and innovations into the lifeline. The Start-up means an entity, incorporated or registered in India which is not older than five years and whose annual turnover does not exceed INR 25 crore in any preceding financial year.
Action Plan for Start-up with IP insights :
To provide Legal support and Fast-tracking Patent Examination at Lower Costs :
The primary objective is to access to high-quality Intellectual Property services and resources, including fast-track examination of patent applications and rebate in fees. The value of the patent is tremendous once it has been realized that it can become a blockbuster drug or product or process. The timeline for existing patent examination stage is six months, but for start-up, the prosecution should be fast-tracked so that the start-up can realize the value of inventions and innovations and able to commercial it and reap the benefits out of it.
Patent Facilitators :
These will be the person who will help the start-up to:
For providing general advisory on different IPRs :
The work is to give advice to the individual who is opening start-up on various types of IPR and how to use these IPR to secure the rights.
Information on protecting and promoting IPRs in other countries :
This includes to help in facilitating and give advice to clients for filing patents in multiple countries either through Paris Convention (1883) or via Patent cooperation treaty (PCT) where an inventor or applicant can file the Patent application in various countries. It also focuses on providing information on the laws of different countries with their patent prosecution stages and what needs to be done at each and every stage.
Assist in filing and disposal of the IP applications related to patents, trademarks, and designs under relevant Acts :
The work of facilitator is to give a hand to start-ups in filing as well as in disposal of IP application to the stage of a grant by advising them upon various stages to that no important dates should be missed.
To appear on behalf of Start-ups at hearings and contesting opposition, by other parties, till the final disposal of the IPR application :
As start-up is not experienced in handling complex matters related to the hearings before controller or before the IPAB, Chennai and also in different Courts, it is the Patent facilitator who will appear with start-up to teach them:
- How should legal and patent documents be prepared?
- How to appear before controller?
- How to put argument before the controller or before the judge?
Government to bear facilitation cost :
Under this start-up scheme the Central Government will carry the entire fees of the facilitators for any number of patents, trademarks or designs that a Start-up may file, and the Start-ups shall bear the cost of only the statutory fees payable. The bearing of facilitation cost is the important for the amateur start-up to no to worry about cost as they have just to pay the legal fees related to filing documents or any fees associated with the IP prosecution at different stages. A 10,000 crore rupees has sanctioned to serve the purpose.
Rebate on the filing of application :
The government will provide an 80% discount in the filing of patents vis-à-vis other companies to different start-ups.
A report published under title of “Achievements of ‘Start-up India’ Action Plan” by Ministry of Commerce & Industry, Government of India providing information that Panel of over 422 facilitators for Patent and Design and 669 facilitators for Trademarks applications and, 104 applications have received rebate of up to 80% rebate on patent fees and also received legal assistance. This data shows that within one year, the number of people opening start-up and seeking legal and IP assistance is increasing and will help in building the nation high.