Intellectual property protection scheme for startups
With startups growing rapidly, Indian government initiated ‘Startup India’ movement and has launched Scheme for facilitating Startups Intellectual Property Protection (SIPP). To protect the ideas, innovations, designs and works of its citizens and to encourage them to work smartly, the government has introduced this scheme. This scheme will help startups by providing access to high-quality IP services that further increases innovation and creativity. Registered agents of Trademark/Patent/Design will act as facilitators under this scheme. These facilitators shall be paid by the Central government for seeking guidance to startups. This comes as an advantage. Startups need not pay any fee to them.
Who may apply?
Any startup recognized in terms of Explanation 5 of the Notification GSR 180 (E) published in Part II, Section 3, Sub-Section (i) of the Gazette of India dated 17.2.2016 may apply under this scheme.
What is Intellectual Property?
This scheme is initially run on a pilot basis and shall be applicable for one year from the date of its launch. The statutory fee and other processing fees shall be borne by startup itself. Startups shall continue to have a full right as to the ownership of their IP and this scheme will not transfer either wholly or partly their ownership right in any manner.
Startups need to understand the theory of patents. The patent is the best way to protect your business and invention from competitors. It provides the exclusive right to make, use or sell your invention. It means that it excludes third parties to use a registered patent even if they know about the patent previously. If the patent application is pending, it will further deter competitors and compel them to use different design and technology.
‘First come, first serve basis’ is the tagline for a trademark. Trademark rights are acquired through use. Before getting it registered, use of a trademark is essential. So, first priority is usage and second are registration. Trademark filing improves credibility among customers. It prevents competitors from using similar brand names or marks.
Design protects the physical appearance of a product and gives an exclusive right to protect it from third parties from using the same. The design must have an individual character, not offensive and completely dedicated to the product’s usage.
This article has been contributed by Simmi Setia, Content Writer at LegalRaasta- an online solution for legal problems such as ITR filing, TDS return filing, GST registration , Nidhi company registration etc.
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.