Hello Readers!! There has been a lot that has been brewing over the past few weeks with respect to Patents. We have decided to recapitulate the patent news which have recently hit the headlines in our segment, Weekly Trends. Let us take a quick look at what happened in the past weeks, with this weekly update.
Indian Patent office to hold meetings to make Patent examination process more user friendly
The Indian Patent office has decided to hold meetings in Mumbai and Delhi with Patent Agents and other stake holders to discuss about making the process of examination of a patent more user friendly. The meeting is scheduled to be held in Mumbai on October, 26 , 2016 and in Delhi on November 2, 2016. The office has been receiving representations and suggestions on certain shortcomings in procedural aspects and the patent office seek to discuss the key concerns involved in examination and processing of a patent in these meetings.
India and US to discuss various patent issues as part of the Trade Policy Forum on October 20th, 2016.
As part of the TPF(Trade Policy Forum), Commerce and Industry Minister ,Nirmala Sitharaman and US Trade Representative Michael Froman will meet on October 20th, 2016 to discuss issues pertaining to Visa, customs cooperation, greater market access for goods and intellectual property rights. An official has also said that important IPR issues like ever greening of patents, compulsory licensing, ways to promote trade and investments between the countries, trade secrets, market access for agro products will find place in the discussions. A joint statement will be released after the meeting. This meeting is of immense importance as TPF is the bilateral forum for discussion and resolution of trade and investment issues between India and US. TPF basically focuses on five groups. These groups are -Agriculture, Investment, Innovation and Creativity (intellectual property rights), Services, and Tariff and Non-Tariff Barriers.
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India and Singapore sign a MoU to promote innovation
India and Singapore have signed a Memorandum of Understanding to promote innovation creativity and technological advancement in both the countries. The major initiatives under the pact are exchange of best practices, experiences and knowledge on intellectual property awareness among the public, businesses and educational institutions of both countries. The aforementioned pact will help India to find out about best practices in the innovation that will reap maximum benefit for entrepreneurs, investors and businesses on both sides.
Indian Government to set up a Rupees 2000 crore guarantee fund for Start-ups
Recently, a top official of Department of Industrial Policy and Promotion (DIPP),Secretary Ramesh Abhishek has revealed that the Indian government is in the process of setting up a Rupees 2000 crore credit guarantee fund with a view to providing funding facilities to start ups. This credit guarantee fund will provide up to 80 per cent risk cover for collateral free credit being given by banks to start ups. Mr. Ramesh Abhishekh shared this information while addressing a conference on Startup India, Challenges and Sustainability in Delhi.
Authored By- Sudha Sameekshya
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