The state will finance 50% of the costs of patenting inventions and utility models

The state will finance 50% of the costs of patenting inventions and utility models
The Cabinet of Ministers adopted a decision on the approval of the "Rule on the state financing of 50% of the costs paid by the rights holders who are citizens of the country for patenting inventions and utility models in foreign countries through the international system of the Patent Cooperation Treaty (PCT) and maintaining them in force for the first three years". did.

Qazet.az reports that Prime Minister Ali Asadov signed a decision in this regard.

The approved Regulation contains provisions on stimulation of inventive activity, provision of state support to this field, and the use of the Patent Cooperation Treaty (PCT) system by rights holders who are citizens of Azerbaijan, and the right to maintain the validity of patents granted for inventions and utility models within the framework of PCT procedures for the first 3 years. the mechanisms of state financing of 50% of the expenses incurred by the owners have been determined.

Adoption of the decision will have a positive effect on the stimulation of inventive activity, the acquisition of an international protection document (patent) by rights holders who are citizens of the country, and will serve to improve the country's position in international rankings.