After an announcement more than 2 years ago, Government of India acts on a prices hike for Intellectual Property. Click here for the original announcement.Nimisha Gupta
1. Trademark Registration prices increased by 12.5%
Originally, proposal was to set the prices to Rs 8000/- a jump of 100%. Registration charges in US are $225 (Rs 15000)
2. Physical application prices increased by 25%
As a part of Digital India initiative, Government is encouraging more online filings than physical filings. This is evident by the increase in physical application filings
An attempt is made to encourage Electronic mode of communication between the Registrar and applicant to enhance transparency and reduce the processing time.
3. New forms introduced
Most of the redundant provisions in the existing Trade Mark Rules, 2002 are done away with. The new forms will stream line the Registration Process.
It is just an estimation that government increased the fees of Trademark registration after successful 13 months (almost an year) of launching Startup India. It is a great gap to create a brand by any entrepreneur. Most entrepreneurs will apply for trademark registration this year.
India business trend is keep on increasing which directly relates to more brands and more trademark registration.
It is time for India to brace themselves and move towards to the great future and fulfill the dream of Make in India and conquer the world. Let the lion came out of the cage and show the world that who is king of jungle.