RBI slaps penalty of 90.00 lakh on Vasai Vikas Sahakari Bank (See 'Corp Brief') Kimberly Watson joins Wipro as country head and MD for Canada Swiss Re to acquire 23% stake in Paytm’s general insurance segment for Rs 920 crore Affine to expands presence in Hyderabad & expects to reach a headcount of 1,000 people by end of next year MSME Minister launches SAMBHAV to promote entrepreneurship (See 'Corp Brief') IBC - Once claim is backed by award passed by the MSME Facilitation Council and there is no stay against same, Resolution Professional can not reject claim of applicant on ground that there is no due shown in the books of the corporate debtor against the applicant : NCLT (See 'Legal Desk') SEBI - Failure to appear before Investigating Authority and furnish information violates section 11C(3) : SEBI (See 'Legal Desk') Anurag Mittal, joins UTI Asset Management Company IEX to commence trade in Energy Saving Certificates India Post Payments Bank ties up with HDFC to offer home loans Incubation Centre for Innovation and Entrepreneurship at AIIA (See 'Corp Brief') RBI launches Consumer Confidence Survey (See 'Corp Brief') Phoenix Parentco acquires Parexel International; CCI okays (See 'Corp Brief') The Indian Contract Act - Injunction order restraining alienation of properties can be passed as it causes no inconvenience to defendant whereas equities require that interests of plaintiff be secured : HC (See 'Legal Desk') IBC - Petition filed u/s 7 of code can be admitted when corporate debtor fails to show any valid proof that debt due and payable to petitioner in his individual capacity is paid to him in his individual capacity : NCLT (See 'Legal Desk')

Patent Fees reduced by 80 % for Educational Institutions

Published: Sep 23, 2021

By TIOLCorplaws News Service

NEW DELHI, SEPT 23, 2021: 80 Percent reduced fee for patent filing & prosecution have been extended to Educational institutions. Centre has notified the amendments to the Patents Rules in this regard. Recognizing the importance of nurturing innovation and creativity in a knowledge economy, India is taking great strides in strengthening its intellectual property ecosystem in recent years. In order to create a conducive environment for innovation, Department for Promotion of Industry and Internal Trade has been working towards promoting greater collaboration between industry and academia. This can be achieved by facilitating commercialization of research undertaken in educational institutions. These institutions engage in many research activities, where professors/teachers and students generate several new technologies which need to be patented for facilitating commercialization of the same. High patenting fees present a restrictive element for getting these technologies patented and thus work as a disincentive for development of new technologies. At the time of applying for patents, the innovators have to apply these patents in the name of the institutions which have to pay fees for large applicants, which are very high and thus work as a disincentive. In this regard and to encourage greater participation of the educations institutions, who play a pivotal role in country's innovation, 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.

TIOL CORP SEARCH

TIOL GROUP WEBSITES