NEW DELHI: India has notified its new patent rules, simplifying the process of obtaining and managing patents and creating a conducive environment for inventors and creators.
“Patent Rules 2024 are expected to accelerate economic development through science and technology,” the Ministry of Commerce and Industry said in its notification of the new rules.
Patent Rules 2024 became necessary because every six minutes one technology is seeking Intellectual Property (IP) protection in India, the Ministry said.
India’s Patent Office granted more than 100,000 new patents between 15th March last year and 14th March this year. This worked out to 250 patents being granted every working day.
In view of the high number of patent applications, it became necessary to enhance India’s IP ecosystem and its administration by codifying new rules and notifying the Patent Rules 2024, the Ministry said.
India’s Patent Office, formerly known as the Office of the Controller General of Patents, Designs and Trademarks, is under the Ministry of Commerce.
The new rules have provision for a “Certificate of Inventorship” to acknowledge the contribution of inventors in the patented invention.
Besides, a patent renewal fee has been reduced by 10 percent if it is paid in advance through electronic mode for a period of at least four years.
The frequency of filing statements of working patents has been reduced from once in a financial year to once in every three financial years.
Easing business, the Trademarks Registry of the Patent Office is “fully committed to issue the examination report within 30 days of receiving a trademark application,” the notification said.
