Trademark registration time to be reduced to 1 month in India!
Arun Jaitley, Finance Minister of India said on May 13th 2016, and I quote “Now in India, we have a very effective and a robust trademark law in place… It takes a lot of time for getting the registration done and our plan is to facilitate online applications and bring down the time period to one month by 2017.”
Reducing the time will help people get their trademark registered within 1 month, which is a lot less time as compared to the current 18 to 24 months. This move will initiate a rapid frenzy for trademark registration across the country and is bound to thus attract higher government fees while doing so.
Going for a trademark now, is still a wiser decision to make as when this new mechanism will be in place, it will be applicable to all the previous applications as well. At least that is what seems to be.
The current pending trademark applications as of 1st February 2016 are 237029. Thus, it is bound to take so much time to register these many applications.
It is rather curious to know what new mechanism will be put in place to cut-short the time to 1 month. This new mechanism will definitely bring a spot-light on the trademarks as an asset in India.