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With reference to the Startups Intellectual Property Protection (SIPP) scheme, consider the following statements:
1. Any Start-Up certified by the Start-up Certification Board as having an innovative business can apply.
2. It provided that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years from the date of incorporation/registration.
Which of the statements given above is/are not correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
With reference to the Startups Intellectual Property Protection (SIPP)...
Explanation:
Statement 1: Any Start-Up certified by the Start-up Certification Board as having an innovative business can apply.
This statement is correct. The Startups Intellectual Property Protection (SIPP) scheme is open to any Start-Up that has been certified by the Start-up Certification Board as having an innovative business. The certification is provided to a Start-Up that is working towards innovation, development, deployment, or commercialization of new products, processes, or services driven by technology or intellectual property.
Statement 2: It provided that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years from the date of incorporation/registration.
This statement is incorrect. According to the Startups Intellectual Property Protection (SIPP) scheme, an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 100 crore, not INR 25 crore. Additionally, the time period for ceasing to be a Start-up is 10 years from the date of incorporation/registration, not 7 years.
Therefore, both statements 1 and 2 are correct, and the correct answer is option 'D' - Neither 1 nor 2.
In summary:
- Statement 1 is correct. Any Start-Up certified by the Start-up Certification Board as having an innovative business can apply.
- Statement 2 is incorrect. The turnover threshold for ceasing to be a Start-up is INR 100 crore, and the time period is 10 years from the date of incorporation/registration.
Statement 1: Any Start-Up certified by the Start-up Certification Board as having an innovative business can apply.
This statement is correct. The Startups Intellectual Property Protection (SIPP) scheme is open to any Start-Up that has been certified by the Start-up Certification Board as having an innovative business. The certification is provided to a Start-Up that is working towards innovation, development, deployment, or commercialization of new products, processes, or services driven by technology or intellectual property.
Statement 2: It provided that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years from the date of incorporation/registration.
This statement is incorrect. According to the Startups Intellectual Property Protection (SIPP) scheme, an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 100 crore, not INR 25 crore. Additionally, the time period for ceasing to be a Start-up is 10 years from the date of incorporation/registration, not 7 years.
Therefore, both statements 1 and 2 are correct, and the correct answer is option 'D' - Neither 1 nor 2.
In summary:
- Statement 1 is correct. Any Start-Up certified by the Start-up Certification Board as having an innovative business can apply.
- Statement 2 is incorrect. The turnover threshold for ceasing to be a Start-up is INR 100 crore, and the time period is 10 years from the date of incorporation/registration.
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With reference to the Startups Intellectual Property Protection (SIPP)...
The Ministry of Commerce and Industry recently announced that IP facilitator charges have increased by almost 50% for patent filing under the SIPP scheme.
- For patents, the fee for application and filing has been increased to INR 15K from INR 10K. For trademarks and designs, the fee has been increased to INR 3K from INR 2K.
- SIPP scheme launched by Government of India, facilitates the start-ups to file applications for patents, designs and trademarks through registered facilitators in appropriate IP offices by paying only the statutory fees.
- Who can apply? Any Start-Up certified by the Start-up Certification Board as having an innovative business.
- For this purpose, Start-up means an entity, incorporated or registered in India not prior to seven years (in the case of Startups in the Biotechnology sector, the period shall be up to ten years), with annual turnover not exceeding INR 25 crores in any preceding financial year, working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.
- provided that such entity is not formed by splitting up, or reconstruction, of a business already in existence.
- provided also that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years from the date of incorporation/registration.
- provided further that a Start-up shall be eligible for availing the benefits of this scheme only after it has obtained certification from the Start-up Certification Board.
- Appointment of Facilitators: For effective implementation of the scheme, facilitators shall be empanelled by the Controller General of Patent, Trademark and Design (CGPDTM). The CGPDTM shall regulate conduct and functions of empanelled facilitators from time to time.
Hence both statements are correct.
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With reference to the Startups Intellectual Property Protection (SIPP) scheme, consider the following statements:1. Any Start-Up certified by the Start-up Certification Board as having an innovative business can apply.2. It provided that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years from the date of incorporation/registration.Which of the statements given above is/arenot correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?
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With reference to the Startups Intellectual Property Protection (SIPP) scheme, consider the following statements:1. Any Start-Up certified by the Start-up Certification Board as having an innovative business can apply.2. It provided that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years from the date of incorporation/registration.Which of the statements given above is/arenot correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Startups Intellectual Property Protection (SIPP) scheme, consider the following statements:1. Any Start-Up certified by the Start-up Certification Board as having an innovative business can apply.2. It provided that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years from the date of incorporation/registration.Which of the statements given above is/arenot correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Startups Intellectual Property Protection (SIPP) scheme, consider the following statements:1. Any Start-Up certified by the Start-up Certification Board as having an innovative business can apply.2. It provided that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years from the date of incorporation/registration.Which of the statements given above is/arenot correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?.
With reference to the Startups Intellectual Property Protection (SIPP) scheme, consider the following statements:1. Any Start-Up certified by the Start-up Certification Board as having an innovative business can apply.2. It provided that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years from the date of incorporation/registration.Which of the statements given above is/arenot correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Startups Intellectual Property Protection (SIPP) scheme, consider the following statements:1. Any Start-Up certified by the Start-up Certification Board as having an innovative business can apply.2. It provided that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years from the date of incorporation/registration.Which of the statements given above is/arenot correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Startups Intellectual Property Protection (SIPP) scheme, consider the following statements:1. Any Start-Up certified by the Start-up Certification Board as having an innovative business can apply.2. It provided that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years from the date of incorporation/registration.Which of the statements given above is/arenot correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?.
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