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India has announced its updated patent regulations, streamlining the process of acquiring and managing patents to foster a supportive environment for innovators and creators.
According to the Ministry of Commerce and Industry, the newly introduced Patent Rules 2024 are anticipated to drive economic growth through advancements in science and technology.
The need for Patent Rules 2024 arose as India experiences a constant influx of technology seeking Intellectual Property (IP) protection, with one application filed approximately every six minutes, as highlighted by the ministry.
Between March 15 of the previous year and March 14 of the current year, India's Patent Office granted over 100,000 new patents, averaging 250 patents awarded each working day.
Given the substantial volume of patent applications, there was a crucial need to fortify India's IP infrastructure and its management by introducing updated regulations, leading to the formulation and notification of the Patent Rules 2024, as explained by the ministry.
Operating under the Ministry of Commerce, India's Patent Office, formerly recognised as the Office of the Controller General of Patents, Designs and Trademarks, oversees these new regulations.
Among the notable provisions of the new rules is the introduction of a "Certificate of Inventorship" to formally recognise the contribution of inventors to patented inventions.
Additionally, the renewal fee for patents has been reduced by 10 per cent for payments made in advance via electronic means for a minimum duration of four years.
Furthermore, the requirement for filing statements of working patents has been relaxed from annually to once every three financial years, aimed at simplifying business operations.
In a bid to facilitate trademark registration processes, the Trademarks Registry of the Patent Office is committed to issuing examination reports within 30 days of receiving a trademark application, as emphasised in the notification.
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