India:
Startups Status Clarified; Rule 2 Of Patent Rules Amended
12 April 2018
S&A Law Offices
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By a Gazette notification dated December 1, 2017, the Central
Government amended sub rule (fb) under rule 2 of the Patent Rules,
2003, to clarify that a 'startup' is any
entity recognized as a start up by the Startup India Initiative,
and in case of a foreign entity, the criteria of startup would
qualify the entity to be:
1. fulfilling the criteria for turnover (as per the reference
rates of foreign currency of RBI) and,
2. period of incorporation/registration as per Startup India
initiative (and submitting declaration in relation thereto).
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