New patent scheme to be rolled out for MSMEs & start-ups in 3 months

Aug 02 2014, 17:11 IST
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The current scheme covers up to 50 percent of the total patent cost or Rs 15 lakh whichever is lesser. Reuters The current scheme covers up to 50 percent of the total patent cost or Rs 15 lakh whichever is lesser. Reuters
SummaryThe Union ministry for Communications and Information Technology will be launching a new...

The Union ministry for Communications and Information Technology will be launching a new "industry-friendly" scheme in the next three months to provide financial support to Micro, Small and Medium-scale Enterprises (MSMEs) and start-up companies to help them with international patent filing.

This is being done by refurbishing the existing scheme and making it more industry friendly, said Ajai K Garg, additional director (Patent and IPR division), Union Ministry of Communication and Information Technology while addressing a conference on Intellectual Property Rights in Electronics, IT and ICT organised by CII at Ahmedabad on Saturday.

"A patent costs a huge amount. Most of the MSMEs and start-ups do not have the capital to invest in patents. So we have promised the prime minister to come up with a new industry friendly scheme to encourage patent filing in the next three months," said Garg while addressing the gathering.

This new scheme which will cover only the international patent filings of the MSMEs, will address the lacunae's in the existing scheme and encourage indigenous innovation and capture growth opportunities in areas of Intellectual Property, Information Technology and Electronics, the official added.

The current scheme covers up to 50 percent of the total patent cost or Rs 15 lakh whichever is lesser. The patent processing costs, including attorney's fees, patent office filing fees, examination fees, patent search cost, additional cost for entering national phase up to grant or issue is being covered by the scheme.

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