The Innovation and Technology Commission has announced the enhanced funding and administrative arrangements for the Patent Application Grant with a view to easing the capital funding problems of individuals or enterprises in applying for patents. From 1 April 2020, the enhanced administrative arrangements includes:
- Applicants will no longer be required to pay a $3,000 deposit at the time of application
- After the application is approved, applicants will not be required to pay in full immediately their required contribution to the cost of patent registration
- Applicants will no longer be required to pay administrative fees, and the approved funding can be utilised in full for expenses related to the patent registration
The Grant aims to subsidise locally incorporated companies and Hong Kong permanent residents which/who have neither owned any patent nor received funding from the Grant before to apply for patents for their own inventions. The maximum grant is $250,000 or 90 per cent of the cost of the patent application, whichever is the lower.
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