BENEFITS OF REGISRATION UNDER STARTUP
1. SELF CERTIFCATION UNDER VARIOUS LABOUR LAWS
To reduce the regulatory burden on Startups, thereby allowing them to focus on their core business and keep compliance costs low.
Compliance Regime based on Self-Certification section of Startup India: Action Plan Department of Industrial Policy and Promotion
DPIIT recognized startups that are within 5 years of incorporation. To apply for DPIIT recognition, click on “Get Recognized” below.
2. Startup patent
i. Fast-tracking of Startup patent applications: To this end, the patent application of Startups shall be fast-tracked for examination and disposal, so that they can realize the value of their IPRs at the earliest possible. Normally to register a Patent may take few years but if you are recognized under the startup, it will be done in few months only.
ii. Panel of facilitators to assist in filing of IP applications: For effective implementation of the scheme, a panel of “facilitators” shall be empanelled by the Controller General of Patents, Designs and Trademarks (CGPDTM), who shall also regulate their conduct and functions. Facilitators will be responsible for providing general advisory on different IPRs as also information on protecting and promoting IPRs in other countries
iii. Government to bear facilitation cost: Under this scheme, the Central Government shall bear the entire fees of the facilitators for any number of patents, trademarks or designs that a Startup may file, and the Startups shall bear the cost of only the statutory fees payable
iv. Rebate on filing of application: Startups shall be provided an 80% rebate in filing of patents vis-a-vis other companies. This will help them pare costs in the crucial formative years
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