Tax sops, loans for cos to boost ipr

1. Coming soon: Tax sops, loans
for cos to boost IPR

2. Contd…
The government s ready with the country's irst intellectual property rights
(IPR) policy that has suggested a series of tax sops and other incentives to
promote research and development and patents, besides providing support
to small and medium enterprises and start-ups. Among a host of measures, it
is looking at a loan guarantee scheme that would treat a patent as a
mortgageable asset that can be used o raise funds. As the funds loans) will
be backed by a guarantee scheme, the move is expected to encourage
startups and others to cover the risk of failure during commercialization of a
patent.
At the same time, the cabinet note moved by the department of industrial
policy and promotion (DIPP), has said he government would use he
legislative space and flexibility available under international treaties such as
TRIPs to protect its interests.

3. Contd…
Activists had feared that the government could dilute so me the provisions of
the existing law, which allowed the patent office to reject frivolous
applications or invoke special provisions to waive patent rights in case of an
emergency or for providing access to medicines. “The idea is to have a legal
framework that promotes strong and effective IPR laws and yet balances the
interests of the right holders with larger public interest,“ said a source.
The policy has been in the pipeline for the past few months and the idea is to
bring down the number of pending applications to global levels and expedite
processing of applications. In fact, at a recent review by PM Narendra Modi,
it was decided to have zero-pendency for trademarks. Sources said the
government is sprucing up the manpower capability at the patent office by
hiring 500 examiners and outsourcing work to 300 persons, including at IITs.

4. Contd…
While a mega awareness programme has been chalked out, the policy has
suggested tax benefits to promote R&D with indirect tax sops to expand coverage
to include spending on creating, developing, protecting and commercialising IPRs.
DIPP has also proposed that there may be tax incentives for a limited period on the
sales and exports of products using IPRs that are generated from pubic-funded
research.
Further, companies that pump in money into public R&D units could treat it as a
corporate social responsibility (CSR) spending. Move is also afoot to support SMEs,
startups and grassroot innovators through tax concessions.
Sources said that apart from strengthening the patent, trademarks and copyright
offices, the government is also looking at a host of measures to strengthen action
in case of infringement and has proposed amendments to the Cinematography Act
to provide for penal provisions for illegal duplication of films. In addition, the
entire, IPR activity , which is spread across ministries, is proposed to be handled by
DIPP .

5. For details and bookings contact:-
Parveen Kumar Chadha… THINK TANK
(Founder and C.E.O of Saxbee Consultants & Other-Mother
marketingandcommunicationconsultants.com)
Email :-saxbeeconsultants@gmail.com
Mobile No. +91-9818308353
Address:-First Floor G-20(A), Kirti Nagar, New Delhi India Postal Code-110015