A trademark is the most potent weapon in any entrepreneur’s arsenal and can be held in perpetuity thus saving their idea or product from possible misuse.
The amendment of 2017 in the trademark rules brought in the division in the legal status of the applicant. The division has implication over the fees of trademark filing. The trademark applicant has to provide information in Form TM-A about the type of category the proprietor will fall into.
The division of category as per CGPDTM is:
Small and Medium-sized industry in developing country like India require support to enhance their technological advancement. The significant change in respect MSME was brought in with amendment of trademark rules, 2017 and Make in India initiative.
Following is the cost breakup of trademark filing
Start-up India Action Plan was brought in by Govt. Of India to facilitate a healthy eco-system for nurturing innovation in Startups. The government came up with the plan to provide credit guarantee comfort for them from all the formal banking system in India.
With Start-up India initiative protecting the IP right in India is friendlier now, as earlier for any sanction they had to wait for approval from Inter-ministerial Board (IMB) but now the process has now been expedited by DIPP.
Start-ups, as the name suggests, is the new business venture with the underlying business model to provide product in the market through innovative method.