Lego Group Wins Copyright Dispute Against Best-lock

Trademark RegistrationA Danish toy production company, Lego has won a Copyright Infringement case against Best-Lock construction toys, a British competitor.

While reviewing the case on Thursday, i.e., 25th July 2019, the US District Court for the District of Connecticut determined that the figurines of Best-Lock had infringed several US copyright registrations that Lego had owned in 1994.

The dispute started when Lego sued Best-Lock in 2011. The former accused the later of producing and selling its minifigures.

The court explained that the Best-Lock’s ads had highlighted the interchangeability of its figures and their parts with Lego’s. The defendant claimed that the argument of the plaintiff concerning the copyright registrations is invalid and unreliable; however, the defendant couldn’t provide any evidence for the same.

It added that while specific elements of Lego minifigures are useful, the fact is that the components are functional and do not render the product uncopyrightable. It is beyond dispute that Best-Lock had accessed the copyrighted work of Lego.

The court continued and referred to the evidence of an interview that took place in 2012. In the interview, Best-Lock’s CEO said that since a child is growing up in Germany, he had admired Lego’s toys, but later found that it had copied a British psychologist’s bricks created in the 1940s’. It explained that products sold by the defendant are not only similar to the applicant’s but also indistinguishable. The comparison of Best-Lock’s products with Lego’s clearly shows that the former had copied the original elements of later.

Best-Lock, in defense, argued that it had been selling the toys in the USA market for several years. But, Lego filed a case against it after US Customs and Border Protection seized a shipment of its products, which they perceived were infringing the Lego’s copyrights.

Ruled in favor of the applicant, the court revealed that it would adjudge the defendant’s equitable estoppel defense at a plenary bench at a later date.

US Customs and Border Protection highlighted the reason behind the seizure and said that it carried out this act because Back-Lock infringed copyrights of Lego.

The filing said; the plaintiff had not previously attempted to stop the defendant from trading its figures in the US. Moreover, it had not provided any warning or notice revealing the information about the infringement of its minifigures by Best-Lock’s. Apart from all these facts, the Court emphasizes the direct interaction between Best-Lock and Lego. Took place abroad, i.e., outside the USA, the interaction misleads the former with the thought that the later would not sue it inside the US. For more visit: https://www.trademarkmaldives.com

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Patenting in Pharmaceutical Industry: An Indian Perspective

Intellectual Property

The pharma industry is continuously growing as one of the most profound ‘knowledge-driven’ sectors. Since the researches in this sector are expensive and unpredictable, it is vital to safeguard their outcomes, which can be a new and inventive product or process. Granted patent, which can aid pharmaceutical companies to prevent any unauthorized commercial use of their inventions, is the best means to avoid infringement in this industry. Patents, trademarks, copyrights, and geographical indication are the forms of Intellectual Property Rights derived for safeguarding the Intellectual Property (IP). Remember that not all rights can protect all types of intangible property. For instance – when it comes to pharmaceutical products, patents (out of all the forms of IPR) appear more valuable to protect the inventors’ invention.

What does Patent in Pharmaceutical Industry mean?

Patent, in this sector, refers to the legal protection for the inventors’ inventions, including new and useful medicines or drugs discovered by the research-based pharmaceutical firms. The patent rights on drugs mean that only the patentee can manufacture, use, and sell the patented drug. The patent can also provide solutions for technical issues, but to obtain those benefits by getting the invention patented, the inventors should ensure that their ideas satisfy the criteria of patentability.

What is the Criteria of Patentability in Pharma Industry?

As the Indian Patent Law states – an invention, whether or not related to the pharma sector, is patentable only if it meets the following requirements:

i) Newness/ uniqueness: The process or product must be unique, i.e., it should not be available or known to anybody in the world before the date of filing.

ii) Non-obvious: The invention should include features that make it non-obvious even to the skilled persons, for example – it should have advancements over existing knowledge or methods.

iii) Industrial Applicability: The process or product should fit the relevant industry.  For instance – a new approach of removing tumor cells from the patient’s body is not patented because it is industrially not applicable.

What are the Types of Pharmaceutical Patents?

If dealing with processes or products that pertain to a comparatively more intense ‘knowledge-driven’ industry, i.e., the pharma sector, the inventor should be more careful about patenting his inventions. Alike in other areas, the patents in the pharmaceutical industry are also territorially bound. Note that even the classification of patents varies from country to country and as per the Indian patent law, the pharmaceutical patents are classified under the following categories:

  1. Drug Compound Patents

The patents that claim any drug compound by considering its chemical composition fall under this category. Known as Markush type claims, these patents serve the inventor of a drug with the broadest protection by preventing others from preparing, using, or selling a similar drug. As long as the granted patent is valid, no one except the owner is allowed to produce or use any formulation involving his drug.

  1. Synergistic Combination Patents

Drug synergy happens when two or more drugs interact with each other to magnify or enhance the effects of the drugs. Patent law, granted by the Indian government under this type, allows the inventors to protect the new synergistic combinations of the drugs.

  1. Technology Patents

The patents under this category are associated with the techniques pharmaceutical companies use to solve specific technology-based issues, including taste-masking, stabilization, and increase in the solubility. Once obtained the patent, the inventors can prevent the usage of the same techniques.

  1. Polymorph Patents

Polymorphs refer to various physical forms or crystal structures of an existing compound. Firms produce them to lessen the impurities or upsurge the stability of their already known compounds. Due to the polymorph patents, innovative companies can safeguard the improved versions of their original or existing drugs.

  1. Process Patents

These are the patents that focus on the process of producing drugs rather than drugs. The process patents in India have been bestowing the inventors to produce and get the same products patented, but only if the process used to create them is novel.

What are the Benefits of Pharmaceutical Patents?

  • Patents in the pharma industry contribute to around 80% of the total revenue generated and is the main component adding to the growth of a drug manufacturer.
  • The granted patent is vital to protect not just products but also the innovative approaches to produce them.
  • By preventing the competitors or others from copying any drug, treatment, or medication, patent rights avoid patent infringement.
  • Patents in the pharma industry help in obtaining a remarkably good return on the high investments made to research, manufacture, and launch a new drug.

Aiming at balancing and fulfilling the requirements of both; the pharmaceutical companies and the consumers, the patent law in India is one of the best examples of patent legislation. Today, a wide range of pharmaceutical products and processes can obtain patent protection. However, before filing the Patent Application, the researchers or inventors of pharmaceutical products or processes must know about the criteria of patentability and the type of patents. It will aid them in obtaining the benefits of patent protection without any hassle. For more visit: https://www.trademarkmaldives.com

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Advantages of Patent Registration in India

Intellectual Property

What is a patent? Is getting a patent beneficial? These are some common questions that can commence hovering over the mind of inventors when they come up with new inventions and attempt to relate them to patenting. A patent is one of the most exclusive Intellectual Property Rights (IPR) granted to an inventor by his country’s government for his unique invention. It empowers the inventor to prevent others from copying, modifying, trading, or importing the invention without his consent. The patent protection continues throughout its lifespan, which is country-specific. In India, the tenure of a patent lasts for 20 years right from the date of filing. It is vital to note that after this duration, anyone can use the invention. The granted patent can bestow the applicant with an umbrella full of benefits.

How is the patent registration in India beneficial?

Patent Law inspires people to come up with more and more ideas as once the patent is granted; the inventor becomes the only owner of his invention. The patent rights being different from other types of Intellectual Property (IP), can be bought, sold, or licensed. As these rights are territorial bound, one country’s patent provides the rights applicable within that nation only. For instance, the patent granted in India gives the owner rights that help in avoiding infringement issues by preventing unauthorized users from importing or using the same ideas within Indian Territory. Apart from inventors, the patent system leads to the growth of the nation’s economy by benefitting the public with affordable services.

After obtaining a patent, the owner can grab a lot of advantages. Let’s go through some of them.

  1. Provides exclusive access to all rights even at early filing

The benefits start serving the inventor from the first step of patent registration means the time when he applies for the patent. As soon as the applicant files the Provisional Patent Application, he will get the security and surety that no one else could claim the same invention, exclusively within 12 months. If any other person or company files  a similar Patent Application, the request will get rejected for the filing period.

  1. Authorizes complete freedom of reforms

The granted patent entitles the inventors to do anything with their ideas for the valid duration, which is 20 years in India. Within this period, no one can use, sell, or modify the original invention without the owner’s consent. Moreover, the inventor owns all the rights to sue the unauthorized user for using his ideas as such usage leads to patent infringement, which is a criminal offense.

  1. Generates ROI (Return on Investment)

If the owner feels that his invention is not offering the expected results, and wants to hand it over to any successful or deserving person, he can easily do so. The patent rights allow him to commercialize the invention while earning a good amount of returns on his investments.

  1. Gives a good market status

The patent law permits the inventor to obtain a remarkable public impression and improve his portfolio by disclosing the invention in the public domain. It further aids him in building up his reputation in the market and a good relationship with competitors and consumers. All these factors will ultimately upsurge his profits.

  1. Allows public disclosure

Patent rights enable the inventor to go for public disclosure that not just builds his portfolio but also increases the company’s funds, business partners, and market value. Sharing information publicly regarding the invention will demonstrate the good command and specialization of the inventor over the technical subject-matter. It will benefit the owner by attracting high-end and leading investors, business partners, shareholders, and consumers.

Why is getting patent for an invention crucial?

If the owners do not get their invention patented, then others can steal their ideas, and obtain all the above-given advantages. After going through the information provided above, one can conclude that if an inventor tries to get a patent, he should have enough knowledge about various things, like the IP industry, market scenarios, patent laws, and competitors. The inventor needs to move step by step and remember the deadlines, along with constantly keeping tracks of patent legal standards as well as required documents. However, getting a patent appears a bit tough job but earning something in your name for a certain period is worthy. For more visit: https://www.trademarkmaldives.com

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Israel Patent Office Issues a New Patent to Microbot

Intellectual Property

Microbot Medical, which is a pre-clinical medical device company, recently announced that it has received a Notice of Allowance for one of its Patent Applications from Israel Intellectual Property Office. The recently granted patent whose patent application number is 231815 pertains to a system to reduce shunt stenosis. Intended to continue diversifying and expanding its Intellectual Property (IP) portfolio, Microbot has filed numerous patent applications. And now, after getting the latest Notice of Allowance, the company holds 33 issued patents and 18 pending patent applications globally.

The co-founder of Microbot Medical, HarelGadot, explained that one of their objectives is to leverage their advanced robotic technologies and explore the opportunities to get the most out of the market. The present dialysis market is available with an alternative to the existing standard of care and an umbrella full of market opportunities for their self-cleaning dialysis shunts. The allowed patent empowers them to expand and safeguard the product offerings they will be bringing in the future while assuring sustainable competitive advantages. They have faith that their firm will increase the patients’ benefits while decreasing the healthcare costs as shunt occlusion is a common complication.

The system mentioned in the patent emphasizes lessening venous stenosis related to the usage of hemodialysis shunts. The process that pertains to this system starts by inserting a cleaning device into the patient’s blood vessel. There are two needle bores, out of which the first one is set to be removed later on, while the second one is set to return the purified blood into the blood vessel.

The clearing device, when in use, contacts with the walls of the blood vessel and acts as a passive device moved down the blood vessel by the flow of blood or an autonomous crawling device, like the TipCatTM device of the company.

As per the USRDS (U.S. Renal Data System), around 750,000 patients in the United States and 2 million patients worldwide get affected by the end-stage renal disease (ESRD) per year. With the continuous increase in the number of patients incurring with the same disorder, dialysis appears the only alternative to kidney transplantation in today’s time.

Dialysis, also known as hemodialysis, refers to a process of purifying the blood of the patient suffering from kidney failure. The process emphasizes using an external circuit to pump the victim’s blood for filtering before it returns into the body. A typical hemodialysis is scheduled for three sessions per week, and each session is of 3-5 hours. For more visit: https://www.trademarkmaldives.com

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What can’t be Copyrighted?

Copyright Registration

In the present highly competitive world, everyone wants to make more and more profit. For this, people sometimes may follow the unlawful path of copying and using others’ work without seeking permission. To avoid such happenings that lead to infringement of their work, owners usually use copyrights. Undoubtedly, the Registered Copyrights facilitate the original creators to prevent unauthorized users from making profits in this manner. However, this way of avoiding infringement issues does not apply to all sorts of things. So if you have written the upcoming hit song, crafted a slogan, or come up with a recipe, ensure whether you can copyright them or not.

Things that can be Copyrighted

Intellectual Property Rights (IPR), including copyrights, trademarks, and others are country-specific. Here, we are discussing the rights as per the US Copyright Office, which states that copyrights protect the things that exist in tangible form.

The Copyright Law extends to the protection of the author’s original work, which is in tangible form. The word “Original” signifies that the owner created the work by his intellectual efforts, not by copying it from any existing one. The protection may extend to an explanation, illustration, or description in written form.

In other words, we can say that copyrights cannot protect the idea you shared with anyone verbally. However, if you write down that idea, then it is likely to get copyright protection.

Note that a few things are unable to attain protection by copyrights even if they are in tangible form.

Things that can’t be Copyrighted                                    

  1. Ideas, Systems, or Methods

Things like ideas, methods, or systems cannot be copyrighted. Items included in this section are building materials, business operations or processes, mathematical principles, formulas, algorithms, and scientific or technical approaches. Copyright law safeguards the expression of ideas or thoughts, not the ideas themselves. An idea signifies a work that does not exist in tangible form.

  1. Commonly Known Information

It includes things that hold no known (original) authorship and thus, considered as common property. For example – statements like “The sky is blue” cannot get copyrighted. It is because no known authorship is associated with such statements. Other examples encompass standard calendars, telephone directories, rulers, tape measures, lists or tables derived from public documents, and height and weight charts.

  1. Choreographic Works

Choreographic works, regardless of them being original or not, cannot attain copyright protection unless their creator either videotape or notate them. The same policy applies to speeches, and the owners are unable to get the copyright if they don’t transcribe their speeches before or after giving them.

  1. Blank Forms

Copyright protection is not applicable in case of blank forms, including time cards, diaries, graph papers, and address books.

  1. Names, Titles, Phrases, or Expressions

Copyrights don’t emphasize protecting the catchy slogans, product descriptions, titles of works, pseudonyms, and names you came up with for representing your business. Ingredients of recipes, formulas, prescriptions, or label also fall under the same category. However, copyrights protect exceptions like cookbooks that provide instructions and explanations.

  1. Useful articles

Copyright law does not consider protecting things that have utilitarian functions. For example, clothing, home appliances, and automobiles. However, exceptions such as building design can be copyrighted because it is an artistic expression also.

  1. Laws

It includes all those works that fall under the public domain, such as cases, regulations, constitutions, court decisions, and statues.

  1. Work by the federal government

The federal US government creates a wide range of works. All these works including memos, rules, reports, and documents, are not permitted to get copyrighted. On the other hand, state governments are liberal to copyright their work.

Bottom Line

Though copyrights facilitate the Intellectual Property (IP) owners to protect their assets, yet it is not prudent to completely rely on these rights as they don’t cover everything. However, the creators do have some other approaches, namely trademarks and patents, to protect those things that are not protected by copyright. So rather than being worried by thinking that copyrights do not apply to the protection of some assets, it is vital to understand what copyrights can or can’t safeguard. Apart from this, you should also have insight into which type of Intellectual Property Rights can be used to protect the product that copyrights cannot. For more visit: https://www.trademarkmaldives.com

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Samsung’s Patent Shows Its Vision for Phone with an Expandable Screen

 

Intellectual Property

Samsung, the South Korean tech giant, is in the news for several announcements, including information regarding the launch of Galaxy Note 10 and 10+, which is set to take place on 7th August, 2019, at the Unpacked event. Although the Galaxy Fold smartphone hasn’t launched yet, talks about the South Korean multinational conglomerate is planning to come up with another phone, are already in the air.

In a recently published patent documentation, the firm has proposed the design of a phone that will be available with a pull-out display. The patent got filed around the end of 2018, but approved in May and published from the Korean Intellectual Property Office on 24th June 2019.

The patent details show the phone with a smart expandable display that extends the screen’s width by nearly fifty percent. The display panel is set to open on the right-hand side. When the user opens the screen, a frame border will also get opened around the display to safeguard it. The smartphone with this design will not just provide the tablet-sized viewing experience but also keep the screen protected. The information also unveils a punch-hole camera that appears in the middle of the front display. The patent doesn’t share information about the technical aspects and functioning of the phone.

Undoubtedly, the details of the new smartphone excite the users, but as this is just a patent filing till now, it is difficult to predict when Samsung will release the exciting gadget.

There is a dire need to note that the firms frequently file patents, but it is not necessary that each ends up into the light of day. Ultimately, whether Samsung will bring a smartphone-based on this design or not, remains confusion. For more visit: https://www.trademarkmaldives.com/

Role of Copyrights in Social Media

Intellectual Property Rights

In today’s digitally equipped world, social media plays a significant role in the success of businesses. Having many existing users, along with adding more regularly, it provides the companies with remarkable opportunities to get more traffic and customers. Undoubtedly, by sharing images and content on social media sites such as Pinterest, Twitter, and Facebook, businesses can make considerable profits. However, to keep everything going smoothly, the firms need to be cautious while posting on social media; else Copyright Infringement can bother them.

The blog includes many facts regarding social media sites, copyright policies of these platforms, and tips to keep copyright infringement issues away.

Copyrights and Social Media

A few years ago, the copyright process was easy. However, with the advent of the internet, advancements in cyberspace and social media that made stringent laws to settle down at a back seat for controlling businesses’ progress, the process turned difficult.

Are you an entrepreneur and want to stay away from online embarrassment and costly litigation when you use social media sites to promote your business? You need to have a precise and comprehensive idea about Copyright Laws and what you write or post online.

Social media sites like Twitter, Facebook, and others may let you proceed with the copyrighted material. But, as these platforms don’t own the content or image you post, rights related to copyrights lie with the owner. Agreeing to the terms and policies shows that you are giving license to the sites to use your works. Each site is available with different agreements.

The below examples of Facebook (FB) and Pinterest will help you in getting a clear idea of how copyrights work with social media.

Facebook: FB’s service terms explain that all rights to your post lie with you; no matter whether it holds an image or content or both. Just by enabling the privacy and application settings, you can control how the posted content will be shared. FB offers terms and conditions even for the content protected by Intellectual Property Rights (IPR).

Pinterest: Policies of this site state that it can use your content if you agree to its terms and conditions. Pinterest copyright statement includes a link that facilitates you to file a complaint or case against people who violate your copyright.

Tips to evade copyright infringement on social media

  1. Receive permission

The safest way to use copyrighted content or image is to get permitted by its owner. Once allowed, you are free to utilize the image or content without any fear.

  1. Prefer public domains

Selecting images from sites that are free from copyright restrictions is also a fruitful way to keep infringement away. On the internet, a plethora of websites are available with images that you can use without facing any legal issue.

  1. Give credit

If you are not able to reach the owner and seek his permission for using the content, it is better to give credits by attaching a link tothe source in your post.

  1. Overview ownership rights

Going through all the ownership rights on social media sites is essential. Apart from these rights, you should also overview the guidelines on safe usage of the copyrighted material.

  1. Believe in purchasing

There is no harm in paying some cents for purchasing copyrighted content as it will keep you far from expensive legal problems. iStock, Shutterstock, and Bigstock are a few websites offering good images at reasonable charges.

Conclusion

Social media posting is one of the trendiest strategies that can make your brand visible worldwide. However, if you want to avail the best possible advantages from this advanced strategic approach, you need to be meticulous about the most common issue – copyright infringement. Moreover, you have to be familiar with all the essentialities for safeguarding your material from its unauthorized use. For more visit: https://www.trademarkmaldives.com/

IBM Patents a Smartwatch that Transforms Into a Tablet

Patent Application

The famous tech giant IBM has acquired a patent for its foldable smartwatch that transforms into a smartphone or an eight-panel tablet. The Patent Application includes a concept that appears implausible today but could become real in the upcoming years due to continuous advancements in display technology.

The company filed the patent application with the title “Variable display size for an electronic display device” three years ago in 2016 but obtained the grant in the mid of June 2019.

The patent showcases a rectangular shaped watch having a thick case under the display. The thickness is because the case consists of a slot including seven more display panels. Users will be able to open and use as many display panels as they want, say one, two, or all eight. Since each display panel is of 3-inches by 2-inches size, opening the whole device results in a tablet having a screen measuring 12-inches by 8-inches. By opening four panels, the user can transform his smartwatch into a smartphone with the proper reform in UI (user-interface).

The smartwatch includes many other considerable features. Some of them are as follows:

  • At least one speaker.
  • Minimal seams on display.
  • Ability to work with a physical keyboard and an optional mouse.

According to IBM, the concept is to make the screen more abundant by employing a set of slides that create a storage slot within the case. The case is capable of recognizing the display size when the users open up additional panels. However, the main emphasis of the concept is to expand the watch display to tablet size, but IBM also focuses on helping people to increase watch display to smartphone mode.

At present, IBM is focusing on quantum computing, consulting, and artificial intelligence (AI) rather than the foldable smart gadget. Moreover, the concept seems implausible today but could be possible with display technology advancements. Hence, no one can predict when the giant will pull such a smart device out of its technological hat. For more visit: https://www.trademarkmaldives.com/

Prime Inc. files a case against Amazon alleging Trademark Infringement

trademark infringement

Prime Inc. filed a trademark infringement case against Amazon in the US Federal Court situated in Missouri’s Western District. Located in Springfield, Missouri, the trucking troop claimed that the e-commerce giant is creating confusion by using the word prime on its shipping trucks.

In the application, Prime Inc. contends that it suffered a lot due to the past and present unfair competition and trademark infringement by Amazon, thus entitled to get more than three times of its profits or losses.

Prime Inc. further alleged that it informed Amazon regarding the unlawful infringement two years ago, through written notifications and proceedings at Trademark Trial and Appeal Board. It added that Amazon still continued to use one or other accused marks on its shipping trucks and moving trailers in commerce. The plaintiff also asserted that the trademark infringement by Amazon is wilful, malicious, and intentional.

In short, Amazon continued exercising unfair competition and infringing rights of Prime Inc.

Some tried to explain that the two prime words are quite different. Clarifying the facts, they said that the prime in Amazon includes small-case letters, and in the case of Prime Inc., it consists of upper-case letters.  However, Prime Inc. was still not satisfied and responded that when compared with each other; both the words appear identical in looks, commercial impression, and meaning.

Reports by the US Patent and Trademark Office (USPTO) revealed that prime is the dominant word in the markings of the two companies and thus, holds more weight than other differences. The applicant claimed that since Prime Inc. and Amazon deal in similar transportation channels, customers might confuse and associate transportation, trucking, and shipping services under the logo of the applicant with Amazon. It continued that the misconception that Amazon’s services are associated with Prime Inc., at the point of sale and after, leads to its loss. For more visit: https://www.trademarkmaldives.com/

Why protecting Intellectual Property is critical for Startups?

Intellectual Property

Are you an entrepreneur and passionate to grow your startup to a remarkably fruitful extent? In today’s highly competitive market, there are many factors, which could lead to a downfall in your business. Don’t be apprehensive as nowadays, even innovators, investors, and the government, are making efforts to facilitate the growth and success of newly established businesses in India.  The chief reason found resulting in failure or ineffective performance of startups is that their owners often overlook the need to safeguard Intellectual Property (IP) while crafting initial strategies that include significant demands and priorities.

Advanced searches concerning several IP assets, including designs, patents, trademarks, copyrights, etc., provide entrepreneurs with the idea of probabilities of the triumph of their business. For example, the owner will come to know whether a similar patent or design that is the base of his business corporation, already exists or not. The information obtained in this manner will help the entrepreneurs in making the essential modifications well in advance, thus preventing them from future conflicts.

What are the advantages of Intellectual Property Protection?

IP assets’ protection benefits a business in many ways like it:

  • Gives legal security
  • Avoids future litigations
  • Allows effective management of resources
  • Establishes a secure environment to let entrepreneurs focus on promoting their products without any hassle.

Businessmen often ask IP lawyers to protect their concepts, which is hardly possible. Well, there will be no need to ask anyone for preventing other companies from copying their business ideas if they implement an effectual strategy for IP protection.

IP is not limited to legal aspects, it holds noticeable importance in numerous other aspects such as entrepreneurs can monetize, and custom IP as a safety net for their enterprises during challenging times. Some avenues in regards to which a business can monetize IP are as follows:

  • Selling
  • Licensing
  • Franchising
  • Earning royalties

Well-organized IP protection develops businesspersons’ self-confidence to demand a suitable cost for their products and avail the expected benefits. It also plays a vital role in persuading the investors’decisions associated with raising funds.

With a thought of bestowing the startups with a positive and inspiring ambiance, the Indian government made many efforts. It began with a scheme called Startups’ Intellectual Property Protection (SIPP) depicting that the Startup Certification Board certifies any startup when:

  1. It has a unique business model
  2. Its yearly turnover doesn’t exceed ₹250 million in any fiscal year
  3. Its incorporation or registration in the nation is less than 7 years old.

What benefits does a Startup enjoy after getting certification from the Startup Certification Board?

  • Full support from facilitators who hold responsibilities for delivering general advice, filing or completing prosecution of applications for patents, copyrights, trademarks, and designs.
  • Provisions to quick actions for patent applications
  • Preferential fee for Intellectual Property application
  • Fixed facilitators’ fees with no additional charges involved for engaging IP lawyers.

Conclusion

In today’s highly competitive world, new firms are more susceptible to get hurt due to losses in businesses. Therefore, it is crucial for startups to prioritize protecting Intellectual Property in the initial planning so that their businesses turn safe, right from the time of inception. Considering the IP protection cost as an optional charge, people often underestimate their needs and have to face negative results. Although, the government and many other representatives have taken initiatives relating to the cost concerns, however, the responsibilities for exploiting or maintaining the existing IP assets rest with corporations. For more visit: https://www.trademarkmaldives.com/