The Ministry of Commerce and Industry of the Government of India has recently updated the Trademark rules. The new Trademark Rules, 2017 came into effect via a Govt. notification on March 6th and will replace the Trademark rules, 2002.
Among the notable changes made, the process of filing for a trademark has been simplified but at the same time, the fees for filing a trademark have been hiked significantly, while making concessions for individuals, Startups and small enterprises.
Here is a list of the most notable changes made in the new Trademark Rules:
A small enterprise is an enterprise engaged in the manufacture or production of goods, where the investment in plant and machinery does not exceed the limit of Rs 10,00,00,000 and in case of an enterprise engaged in providing or rendering of services, where the investment in equipment is not more than the limit of Rs 5,00,00,000.
A startup means an entity, incorporated or registered in India, not prior to five years, with annual turnover not exceeding INR 25,00,00,000 in any preceding financial year and working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property. However, if any entity formed by splitting up, or reconstruction, of a business already in existence, it will not be considered as a startup and also, an entity shall cease to be a Startup if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 5 years from the date of incorporation/ registration. A Startup needs to obtain certification from the Inter-Ministerial Board.
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