What is a Startup according to the Trademarks Act?
The Trademark Rules, 2017 have divided the Applicants in two categories:
Category A: Individual/ Startup / Small Enterprise
Category B: Others
A Startup means an entity in India recognized as a Startup by the competent authority under Startup India Initiative and submitting declaration to that effect.
The Trademark Rules, 2017 define “Startup” as an entity that satisfies the following criteria:
- It is incorporated or registered in India, not prior to five (5) years,
- Has an annual turnover not exceeding INR 25 Crores (Rupees Twenty-Five Crores only) / USD 250 Million (Two Hundred and Fifty Million United States Dollars) (approximately) in any preceding financial year and
- Is working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.