Startup Intellectual Property Protection (SIPP) Scheme: Meaning, Eligibility, Benefits

Its main motive was to reach out to individuals and promote the use of SIPP among them.

What are Intellectual Property rights?

Intellectual Property rights are those legal rights that protect the creations of the human intellect of an intellectual. These give usage rights to creators to protect their idea or product. With continuous evolutions in the developments and innovations of startups, intellectual property rights protection has become more critical.

The Objective of Intellectual Property Rights

• To promote the adoption and awareness of these rights among startups.

• This assists startups in protecting and commercialising it by providing them access to high-quality IP services.

• It focuses on promoting innovation and creativity.

• Mentoring emerging technologies among startups.

Startups Intellectual Property Protection Rights (SIPP)

The Government of India, with the view of encouraging startups, has launched the scheme. Its main motive was to reach out to individuals and promote the use of SIPP among them. The scheme was initially in force till 31.03.2017; it was extended for three years until 2020 and is again extended till 2023.

SIPP Benefits for Startups

• It provides secure ownership over intellectual property, such as trademarks, brand names and patents.

• One can easily establish their rights over IP.

• By providing only required statutory fees, the startups can avail of patents, trademarks and design services.

• The startups can avail of complete services, including general advice, assistance in drafting applications, contest opposition, preparing responses and ensuring the final disposal of the IP rights.

Eligibility criteria

• To avail of the SIPP scheme’s benefits, the companies must be recognised by the Department for Promotion of Industry and Internal Trade (DPI).

• The startup’s existence period should not exceed ten years from the date of formation.

• It should be working for the development of a product, process or service.

• It should have a high potential for creating wealth and employment.

• The company should be able to create wealth and generate employment.

• The entities formed by the partition or reconstruction of an existing company are not eligible for this scheme.

Who are the facilitators for SIPP?

• Trademark agents registered with the Controller General of Patents, Designs and Trade Marks (CGPDTM).

• Patents agents registered with the CGPDTM.

• Any advocate defined under the Advocates Act, 1961, authorised to practice law under the rules laid down by the Bar of India and actively involved in the filing and disposal of trade mark applications.

• A Government organisation, agency, department or central public sector undertaking.