MSMEs are becoming aware of IPR, says experts

Coimbatore, Nov 26 (KNN) Micro Small and Medium Enterprises (MSMEs) becoming aware of intellectual property rights such as trademarks for their brands and products, say experts.

According to Intellectual property rights (IPR) attorneys, said that MSMEs numbers are increasing to get trademarks as 70 of them come up every year compared to five years ago, where around 25 startups used to come.

Reportedly, while speaking at the IPR awareness programme organized by the branch MSME Development Institute in the city, Loganathan S, advocate and trademark attorney, said with online marketing portals are opening up more avenues for startups and MSMEs’ trademarks, for brands and copyright for logos to help them fare well on the online space.

The ministry reimburses Rs 5 lakh for MSMEs which get foreign patents, Rs 1 lakh for getting domestic patents, Rs 2 lakh for getting geographical indication and Rs 10, 000 for MSMEs which get trademarks, said Assistant director in-charge of the institute R Vijayakumar adding that “we have been creating awareness of these schemes to more MSMEs in the region.” 

Apart from patents and trademarks, firms can also register their designs shapes and configurations under IPR, Loganathan said.

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