New Delhi: Union Commerce Minister Nirmala Sitharam on Monday felicitated domestic handset-maker Micromax for receiving 1.25 millionth trademark registration number using the Madrid protocol.
The minister, who presented a certificate of appreciation to Micromax CEO Vineet Taneja, was attending an event here on trademarks jointly organised by her ministry, the World Intellectual Property Organisation and industry chamber Ficci.
The Madrid protocol allows an applicant to file one application, in one language and pay one set of fees to protect the trademark in all WIPO member countries. The move assures that Micromax's trademark will now be protected in 111 countries.
Speaking on the occasion, Taneja said: "The Madrid protocol was useful as it is extremely cost effective and saves a lot of time for us."
"Micromax is known for its innovation and cost effectiveness and with the trademark protection in place we hope to expand at a very fast pace in these 111 nations," he added.
Micromax, which is just present in four countries currently, is the 10th largest mobile manufacturer in the world and is the largest domestic handset-maker in the country in terms of market share.