CURRENT AFFAIRS

Detailed explanation-1: -Startups recognized by DIPP can avail Intellectual property Rights (IPR) related benefits such as IPR fast-tracking and more without requiring any other license from the Inter-Ministerial Board. The current article provides a brief understanding of DPIIT Certificate of Recognition for Startups.

Detailed explanation-2: -Must be registered as Private Limited Company Registration Online / Limited Liability Partnership (LLP) / Registered Partnership Firm. Turnover must be less than Rs. 100 crores in any previous years. The application should be made in the first 10 years after the incorporation.

Detailed explanation-3: -Intellectual Property Rights prevent opponents, bigger establishments/ companies from stealing/ copying indications, inventions, brand names/trademarks, which in twist furnishes start-ups to broaden and make profits with exclusivity for a set period.

Detailed explanation-4: -To fulfill this vision the GOI has launched the scheme viz Startup India registration under DIPP (Department of Industrial Policy and Promotion) under the Ministry of Commerce and Industry. This scheme supports Startups by providing various benefits to the registered entity.