Indian Patents (Amendment) Rules 2020 notified on 4th November 2020, focusing on Form 27 and revision of Fee structure
In an effort to ease the compliance burden, foster innovation, and facilitate economic growth by easing modes of running businesses, the Government Of India made revisions to the Patents (Amendment) Rules, 2020.
This will allow the patentee the flexibility to file a single Form-27 in respect of a single or multiple related patents. Authorised agents would also be able to submit Form-27 on behalf of the patentee, which will lead to greater ‘ease of doing business’ for innovators. The amended Rules notified on 4th November 2020 allow joint patentees to file joint Form 27.
Further, the patentee would be required to provide approximate revenue or value accrued, and the patentees would get six months to file Form-27 as opposed to the current three-month period, from the expiry of the financial year.
Yet another substantial relaxation is that the patentee will not be required to file Form-27 in respect of a part or fraction of the financial year.
While the Form 27 provisions have been relaxed to a considerable extent, the Controller is now empowered to seek information from the patentee, if required. The amendment Rules also result in changes to the fee structure.
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