As per the latest announcement made by the Central Government, the patent fees for all educational institutions have now been reduced by 80 per cent in order to promote the innovation and development of new technologies in the country.
According to the Ministry of Commerce & Industry, the reduction in the patent fee is a step towards increasing the collaboration between academia and the industry.
The reduction in patent fees in educational institutes will help strengthen the environment of innovation in the country. The official announcement for the same was made on Thursday, September 23, 2021.
Referring to the initiative, the Commerce and Industry Ministry stated that the institutes will now engage in various research activities where new technologies will be involved. The students and the faculty members will generate the technologies in order to facilitate commercialization.
"In yet another significant push towards Mission Atma Nirbhar Bharat, benefits related to 80% reduced fee for patent filing and prosecution have been extended to educational institutions as well. The Centre has notified the amendments to the Patents Rules in this regard," it said.
In order to facilitate commercialization, the new technologies required patent filing. With the reduction in the patent filing fee in all institutes, the government is now expecting an increase in applications for the same.
While talking about the fee, the Ministry further stated that in order to encourage participants to help in the country's innovations, the official fee which needs to be paid under Patents Rules, 2003 for patent filing has now been reduced as per Patents (Amendment) Rules, 2021.
As per the official statement made by the Ministry, "In this regard and to encourage greater participation of the educational institutions, who play a pivotal role in the country's innovation, the fee has now been reduced”.
“The official fees payable by them in respect of various acts under the Patents Rules, 2003, have been reduced by way of the Patents (Amendment) Rules, 2021, which came into effect on 21st September 2021" the official statement added.
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