TFP Bureau, New Delhi, March 17, 2024: In a significant development for India’s innovation ecosystem, the Patent Rules, 2024 have been officially notified, ushering in a new era of streamlined patent prosecution and management. The revamped rules aim to bolster economic growth through science and technology, aligning with the vision of ‘Viksit Bharat Sankalp.’
Outlined below are some key highlights of the updated rules:
1. Certificate of Inventorship: A unique provision has been introduced to recognize the contribution of inventors in patented inventions through the issuance of a new ‘Certificate of Inventorship.’
2. Grace Period Benefits: The process for claiming benefits of the Grace period under section 31 has been simplified with the incorporation of a new form, Form 31.
3. Time Limit Adjustments: Time limits for various procedures, including filing foreign application details and requesting examination, have been revised to align with the fast-paced nature of technology advancements.
4. Extension of Time Limit: Procedures for extending time limits and condoning delays have been made more explicit, allowing for flexibility in practice.
5. Renewal Fee Reduction: Renewal fees have been reduced by 10% for payments made in advance through electronic mode for a period of at least four years.
6. Frequency of Filing Statements: The frequency to file statements of working of patents has been reduced from once a year to once every three financial years, with provisions to condone delays in filing.
7. Pre-grant Representation Streamlining: Procedures for filing and disposing pre-grant representations have been streamlined to curb fraudulent oppositions while encouraging genuine oppositions.
In tandem with these regulatory advancements, the Patent Office has achieved a significant milestone, granting over one lakh patents in the past year alone. This translates to an average of 250 patents granted every working day, highlighting India’s growing prowess in innovation.
Additionally, there has been a remarkable surge in Geographical Indication (GI) registrations, with a threefold increase compared to the previous year. Currently, India boasts 573 registered GIs, with 98 new registrations in the fiscal year 2023-24.
Furthermore, the creative sector has witnessed a surge in copyright registrations, totaling 36,378 in the fiscal year 2023-24, emphasizing the strategic role of copyright in fostering creativity.
The design sector has also experienced unprecedented growth, with a record-breaking number of design registrations totaling 27,819, alongside the disposal of 30,450 applications. Notably, initiatives like Toycathon have fostered innovation among students, with over 1.25 lakh students participating and 115 novel designs registered.
With a steadfast commitment to promoting intellectual property (IP) awareness, the National Intellectual Property Academy of Management (NIPAM) has provided IP training to 24 lakh youths, underscoring the importance of IP education in fostering innovation and economic growth.
As India’s IP ecosystem continues to evolve and expand, these developments mark a significant stride towards realizing the nation’s innovation potential and fostering a conducive environment for inventors and creators alike.
