For entities scaling the business globally, application for Intellectual rights is a must requirement. Intellectual rights are required to save innovations of entrepreneurs when they take them abroad for better recognition and revenue.
These innovations are prone to the threat of being copied or misused with no intellectual security. There are several initiatives, which governments undertake for entities for their Intellectual protection like allowing them speedily processing of their patent applications through the Patent Prosecution Highway (PPH).
Now, the government has put forward another scheme for Indian MSMEs and technological units to finance their patent applications cost abroad. Titled as ‘Support for International Patent Protection in Electronics and Information Technology (SIP –EIT)’, the scheme was launched under the authority of the Ministry of Electronics and Information Technology (MEIT).
The scheme aims to encourage patentable innovations abroad by providing reimbursement of expenses incurred by patent applicants in their global patent applications.
Eligibility for filing application in SIP-EIT Scheme
To avail the benefits of the scheme, an applicant should be a registered entity under:
- The MSME Development Act, 2006 or;
- The Companies Act, 2013 fulfilling the conditions of investment in plant and machinery as required in the MSME Development Act, 2006.
- The STPI rules as Software Technology Park (STP) fulfilling the conditions of investment in plant and machinery as required in the MSME Development Act, 2006.
- The Start-up business rules as a technology incubation enterprise or a Start-up located in any incubation center/park (holding an incubation certification) fulfilling the conditions of investment in plant and machinery as required in the MSME Development Act, 2006.
Criteria for Scrutiny of Applications in SIP-EIT Scheme
- The applicant should have applied for a waiver under Section 39 of the Indian Patent Act (Section 39 – Residents not to apply for patent application without prior permission from the authority specified) or with the Indian Patent Office (IPO).
- The innovation should be related to technology (ICT – Information, Communication or Technology) or electronics.
- The innovation must have receipt approval from any reputed institution or IPR (Indian Patent Registration) Authority.
- One application for foreign filling in all countries shall be considered for a particular invention.
Benefits of SIP-EIT Scheme
The Scheme provides for the reimbursement of expenses* to registered entities or eligible entities in the scheme incurred by them in filling and processing of foreign patent applications for up to:
- A total of Rs 15 lakh per invention or.
- 50% of the total expenditures incurred, whichever is less.
* Expenses: Expenses incurred here means official fees paid for filling, examination, processing fees, expenses on search, attorney charges and cost of translation.
* Expenditures shall only be reimbursed when incurred from the date of the acceptance of the application till the grant of patent.
The filling application under SIP-EIT Scheme
- Applicants for availing reimbursement of patent charges have to register in the SIP-EIT Scheme through the official web portal of the Ministry of Electronics and Information technology located at http://www.ict-ipr.in/sipeit/registration.
- After registration, the following documents are to be submitted on the portal:
- Scanned copy of the registration certification obtained under the above-prescribed Acts or regulations.
- Scanned copy of financials of business (Balance sheet, P&L Account, etc) in pdf format.
- Scanned Copy of official filing receipt (OFR) with Indian Patent Office or copy of waiver under section 39 of Indian Patent Act in case of a patent application filed in countries outside India.
- Scanned copy of technical write-up of invention duly filled up as per the format of technical write-up.
- Copy of patent search report.
- Copy of evidence stating for the payments made in processing or filling of patents.
- Statement from the Auditor stating for eligibility of the entity to apply for the scheme.
- Once all documents and declarations uploaded on the portal, it is to be verified for final submission.
- Self-declaration by the applicant also need me made to ensure proper disclosure of information.
Once the application is submitted and is accepted, it will be put up for scrutiny and recommendation to an expert group. After granting approval the authority will then initiate for the reimbursement process.
Tired of repeated errors in Patent Application?
Let us do it for you
Email us at email@example.com
Also Read: BUDGET 2020 IMPACT ON THE SERVICE SECTOR