FISME IPFC To Assist MSMEs Get Reimbursement For Filing IPRs

New Delhi, Oct 10 (KNN) In a significant boost for Micro, Small, and Medium Enterprises (MSMEs), the Federation of Indian Micro and Small and Medium Enterprises (FISME) has announced that its Intellectual Property Facilitation Centre (IPFC) will assist these businesses in securing reimbursement for their Intellectual Property Rights (IPR) filings. 

FISME IPFC, while aiming to strengthen in general the competitiveness of MSMEs so that they can become a part of the global business community, will specifically endeavour to build greater awareness among MSMEs about IPR issues and provide insights to them on the complex mechanism of creation, ownership, and protection of Intellectual Property. Services include filing patents, trademarks, and designs.

Additionally, the IPFC offers thorough IP searches, prior art searches, novelty searches, validity searches, and Freedom to Operate (FTO) analyses, ensuring that MSMEs can make informed decisions regarding their intellectual property.

One of the key features of the IPFC is its facilitation of financial assistance for eligible MSMEs. The Ministry of MSME provides grants to support the costs associated with obtaining various forms of intellectual property. 

The maximum financial assistance available includes Rs 5 lakh for foreign patents, Rs 1 lakh for domestic patents, Rs 2 lakh for Geographical Indications (GI) registration, Rs 0.15 lakh for design registration, and Rs 0.10 lakh for trademark registration. 

This initiative, approved by the Ministry of MSME, aims to enhance the protection of innovations and creations within the MSME sector, thereby promoting entrepreneurship and fostering economic growth.

These financial incentives are crucial for MSMEs, which often face budget constraints. By offsetting some of the costs associated with IPR filings, FISME and the Ministry of MSME are empowering these enterprises to innovate without the fear of financial burden.

FISME encourages interested MSMEs to reach out for further information regarding the reimbursement process and available services to R.P. Singh via email at rpsingh@fisme.org.in or by phone at 011-48460000 / 9810689053. Additionally, Archit Tripathi is available for inquiries at archit.tripathi@fisme.org.in or mobile number 8318861703.

This initiative aligns with the government's broader strategy to enhance the competitive edge of Indian MSMEs on a global scale. By facilitating access to intellectual property rights and providing financial support, the FISME IPFC is paving the way for innovation-driven growth in the MSME sector, which is vital for the overall development of the Indian economy.

(KNN Bureau)