Startup Intellectual Property Protection Scheme

The Government of India recognizing the immense Economic power of startup and understanding their ability to increase rapidly the growth rate of the nation, as part of its Startup India initiative, has introduced a scheme to facilitate the protection of the Intellectual Property Rights (IPRs) of startups and providing free legal advice and help in registering IPRs. Which can startups use this scheme? Any Private Limited Company or a Partnership Firm or a Limited Liability Partnership incorporated/registered in India less than 5 years old, having a turnover not exceeding Rs.25crores in any financial year, and is working towards innovation, development, deployment, or commercialization of new products, processes or services if it aims to develop and commercialize: 1) A new product or process or service, or 2) A significantly improved existing patent or service or process, which will create or add value to customers and workflow-driven by technology or intellectual property. What will this cost me? ABSOLUTELY NOTHING. The legal fees for all advice and consultation will be paid by the Department of Industrial Policy and Promotion (DIPP). The only legal fees payable is the statutory fees for each patent, trademark or design applied for in India or abroad which shall be borne by the startup itself. What is the period of the Scheme? The Scheme will run on a pilot basis and shall be applicable for a period of 1 year, from the date of launch of Startup India i.e. until 15^th January 2017. How do I get my startup recognized? Through the mobile app/portal of the DIPP by submitting a simple application along with: 1) A recommendation, or 2) A Letter of support from a recognized Incubator 3) A Letter of funding of not less than 20% in equity from an Incubation Fund/Angel Fund/Private Equity                         Fund/Accelerator/Agent Network registered with SEBI 4) A Letter of Funding from the Central Government or any State Government 5) A patent filed and published in the Journal by an Indian Patent Office in the areas affiliated with the nature of the business being promoted. What will an Incubator do? The Incubator will help to get your application accepted. How do I find one? A list of 118 Incubators, which can be approached, is given at the Startup India website. What happens once my application is accepted? You can take the help of a facilitator who will guide you throughout your entire IP application. Where do I find a Facilitator? Facilitators appointed by the Controller General of Patent, Design, and Trademarks (CGPDTM) can be approached to gain advice and explanation of the procedures involved in IPR registration. A list of 215 facilitators for Trademarks, 277 for Patents and 209 SEBI registered funds are provided at the Startup India website. How will the Facilitator help me? They will explain what type of IPRs they own, whether it is a patent, design, or trademark. They will tell you exactly what is protected and what needs to be done to protect and promote your IPR in India and even in other countries, help in filing your IP application, appearing for hearings until the final disposal of your IP application. In a nutshell, taking care of all your IPR related legal wrangles from the beginning to the finishing point. What will happen to my IPRs? Neither the Government of India nor the facilitators will have any rights in your IPR and there will be no transfer of rights either partially or wholly. For further more details regarding company registration, copyright registration you can visit our website: Legal Raasta. And call us on 8750008585 and send your query on Email: contact@legalraasta.com

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