This summer the Brazilian National Institute for Industrial Property (INPI) implemented a new fast-track option for the examination of patent applications, which is dedicated to local startups. To benefit from this new option, the applicant must present a certificate, issued by local authorities, stating that it meets the statutory definition of a startup. According to the statute, a “startup” is an innovative company that “aims to improve systems, methods or business models,” either incrementally or in a disruptive fashion. According to INPI, the goal of this new fast-track option is to assist technology-based companies in establishing themselves in the market, as patents allow them to confirm the originality of their inventions. Thanks to RAFAEL SALOMAO (Daniel Law), Secretary of IPO’s Latin America Practice Committee, for submitting this update on behalf of the Committee.
Published on IPO. Read it here.