RISIKO Providing Pro-Bono i.e. Free Consulting Services to MSME amid COVID19

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COVID-19 has profoundly impacted all of us in India and it has specially impacted the Micro, Small and Medium Enterprises and Family Owned Businesses.

Micro, small and medium enterprises (MSME) exporters will be impacted more by the current lockdown on account of Covid-19 pandemic as the sector accounts for over 45 per cent in the country’s total outbound shipments, according to trade experts. Due to lockdown, magnitude of the impact on MSME exporters can be gauged from the statement of the World Trade Organisation (WTO) which has projected that global trade in goods is set to decline steeply between 13 per cent and 32 per cent in 2020 as countries across the world are battling with the Covid-19 pandemic. The MSME sector also contributes about 25 per cent to the country’s GDP (gross domestic product) from service activities and over 33 per cent to the manufacturing output of India. (Source – TOI)

Despite of facing all the hardship, adverse and crisis-situation, we consider MSME is going to be very crucial lifeline in maintaining and re-establishing the disrupted supplies as well as re-starting the wheel of economy.

“We, at RISIKO family deeply understand about this time of crisis as well as upcoming difficult market conditions, especially for our Small Scale Businesses, Family Businesses and MSME community. We pledge to stand firmly with our MSME Sector through our Pro-Bono Consulting Services Schemes. We can assist in providing in devising way-out from any crisis-situation by offering our professional , financial or strategic advisory and by counselling in critical decision-making activities post COVID-19 scenarios. We can further help to explore alternative product/ service solution or strategies for handling the situation effectively and efficiently keeping in mind the associated risk and cost factors.” -Said Vimlesh Chaurasia, founding Partner and CEO of RiSiKo Consulting LLP – India.

To address concerns of small scale businesses, family businesses, start-up, non-profit organisation, entrepreneur and MSME Sector during the COVID-19 pandemic, RISIKO has formed a pro-bono consulting division to specifically help Small Scale & MSME Businesses to survive , revive and navigate through the crisis.

This pro-bono consulting is voluntary act with no cost and with no hidden conditions or charges. We are fully committed to this objective and we are sure, we can make a real difference by helping family, business community, leaders , promoters and entrepreneur.

We value and cherish the contribution of Small Businesses or MSME Sector, and RISIKO would like to repay by offering our Pro-Bono Consulting Services (i.e. Free of Cost Consulting Services) to MSME Sector (Individual or firm or Company etc.).

So if you are small scale businesses, family businesses, start-up, non-profit, entrepreneur, MSME Sector and if you have any question or query related to any of the below mentioned areas, you can reach out to us over call or Whatsapp or email or skype : –

  1. -Income Tax Matters
  2. -TDS Matters
  3. -Advance Tax Matters
  4. -Income Tax Return Matters
  5. -GST Return Matters
  6. -GST Refund Matters 
  7. -Contract/Agreement Review and Opinion
  8. -Dispute Resolution or Negotiation or Settlement
  9. -Lender Borrower Matters
  10. -NPA or Loan Default Matters 
  11. -Accounting and Book-keeping
  12. -Financial Advisory
  13. -Strategic Advisory
  14. -Cash Flow Management
  15. -Cost Control and Cost Reduction
  16. -CSR Funding and PM Care Donation
  17. -Turnaround and Crisis Management Strategy (post lockdown -opening)
  18. -Advisory on new business or license registration
  19. -New Industry or Factory Set up
  20. -International Market Entry and Export
  21. -Import and Export Related matters
  22. -MEIS & SEIS Related matters
  23. -Advisory on Government Grant or Financing and Loan options
  24. -Advisory on Government Economy Stimulant Package for Covid19
  25. -Reducing the Covid19 impact on Business and Revival Techniques
  26. -Risk Management and Risk Mitigation Technique
  27. -Option for Closure or Insolvency or Bankruptcy or Exit Options
  28. -Discussion or Negotiation with Labour/ Union / Employees/ Staff
  29. -IT & Technology Automation Tips
  30. -Any other matters / services listed on our website (www.risikollp.com)

We will continue to provide our Pro-Bono i.e. Free Consulting Services till the end of the June 2020 (& can be extended further,if required) and if you wish to avail Pro-Bono Free Consulting options, please email us your query/ request on info@risikollp.com along with MSME or UAM or Udyog Aadhar ID / Certificate (optional) and your Contract Details.

One of the dedicated Team Member will be assigned to your query and said team member shall get in touch with you within shortest possible time.

Please feel free to reach out to us and give us the opportunity to help the MSME community. For any further questions about this blog , please contact at info@risikollp.com. We again thank you all the Industry and Players in MSME Sector & We Pledge to stand with you always.

Regards and wishing Safetyfrom RISIKO Consulting Family

Effects of COVID-19 on Patents – Twice The Number of Abandonments

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As companies hunker down for the effects of the COVID-19 virus, they are abandoning their IP protection at TWICE the normal rate.

And it is likely to go up much further. AND this has never happened before.

BlueIron’s study looked at recent USPTO abandonments to see what, if any, effects were from COVID-19. The results were enlightening.

Patent Abandonment Rate has DOUBLED in the Last Month

For both Small Entities (under 500 employees) and Large Entities, the normal rate of abandonment is about 12.5% and 7.5% (respectively). In March 2020, the abandonment rate has nearly doubled to 23% and 12%. (For example, small entities received 5747 office actions in September, and 1326 were abandoned – a 23% fall off rate.) The data from April 2020 is expected to be even higher.

Patent protection is a very long term play – the assets last 20 years. In some respects, patents reflect the company’s optimism and commitment to the future. Why would a company get a patent? Because they plan on being in business to use that asset during its 20 year life span.

Companies abandon patent applications for many reasons. Sometimes, the examiner finds prior art that kills the patent dead in its tracks, but most often it is a cost issue. Companies will continue fighting with the examiner and investing money into their patent because they see value, even if they have to amend their claims.

The patent value equation changed dramatically in the last couple months.

Companies are twice as likely to tell their patent counsel to abandon their patent applications lately, compared to historical averages.

For most companies, in my opinion, this reflects possibly two factors: the need to conserve cash and, more worrisome, possibly more pessimism about the future. A third option is that entrepreneurs are happy to have an excuse to cut a pointless expense.

Cash Conservation

Abandoning a patent application certainly conserves cash in the short run. The US average cost to pay an attorney to file a response to an examiner’s rejection is $4000. The raw data are available here from AIPLA (membership required). In a typical cadence, each patent application will require two to three responses filed per year, so keeping a patent application alive saves $8-12K/year in direct cash outlays.

I do not believe this is cash conservation. This is something different – and much more dangerous.

This reaction did not happen in 2008, during our last stock market crash and reset. Throughout all of that period, abandonments went up and down, but hovered at 12% for small entities and 6-7% for large. This is the same rate for most of 2019.

Then something changed – and it changed in a way we have never seen before.

I believe this change is a severe pessimism on all fronts.

Pessimism About The Future

Patents are inherently forward-looking. They are bets that a company’s technologies will be valuable in the future, and, for all practical purposes, patents are call options on technology.

Patents are inherently optimistic. The investment reflects the inventor’s belief that they will be successful in bringing their product to market, and competitors will pop up. Patents are the Big Stick that will protect the entrepreneur’s investment in their business.

Abandoning patents can signal that business owners are not as optimistic as they once were about their ideas. This signal could indicate that even the entrepreneur does not believe in their own ideas, and might be a leading indicator that the entrepreneur will pivot or even close down the enterprise.

Dry Powder

Previous economic downcycles have dumped lots of IP on the open market. In fact, the “industrialization” of IP occurred right after the dot-com era. Intellectual Ventures was formed out of the dust of the dot-com bubble. The term “patent trolls” was born from people trying to generate value from IP left over from the failed startups of that time.

If patents were valuable before the Corona virus, they will be even more valuable after. With companies abandoning their IP, this means that those that keep their IP alive will have an even better competitive advantage when the inevitable recovery happens. Quite simply, they will have IP protection when their competitors do not.

What does this mean for USPTO applicants? It means better, faster examination for those who keep their applications pending.

What does it mean for patent attorneys? The gravy train of patent prosecution is likely to dry up, and it will take years for the pipeline to be refilled with new applications. I don’t think there will be many tears shed for the fate of the patent attorneys.

About the graph:

The graph shows the abandon rate for small entities (less than 500 employees) and large entities. Universities, non-profits, and independent inventors are removed from this dataset.

USPTO rejections allow 6 months to respond. The labels reflect the last date available for response. In other words, the data labeled March 2020 reflect final and non-final rejections issued by the USPTO during September 2019. Note that March 2020 contains data for the first three weeks of March only.

The patent abandonment data are a lagging indicator. We do not see the effects of a decision to abandon a patent application until after the six month window to respond has ended. By all indicators, the data for April 2020 will be much worse than March 2020.

The raw data were compiled from AcclaimIP.

About the Author :

Russ Krajec is an accomplished author, inventor, and engineer. Russ is the author of “Investing In Patents” and the forth-coming book “Startup IP Strategy,” as well as countless blogs and articles. He is a registered patent attorney, having drafted nearly 1000 patent applications since passing the patent bar exam in 2000. Russ is a Certified Patent Valuation Analyst.

He is the CEO of BlueIron, which finances patents for startup companies. BlueIron finances pre-revenue startup companies with $50-100K investments to build out their patent portfolios.  For post-revenue companies, can do loans of $2-5M, using only your patents as collateral.

Russ holds a BS and MS in Mechanical Engineering from Rensselaer Polytechnic Institute and a JD from Denver University.

If you wish to speak to him for short call or analysis of your Patent related query, you can schedule an online meeting by clicking here. Alternatively, you can send an email on russ.krajec@blueironip.com with copy to Info@risikollp.com.

Government of India looking for items related to COVID-19 from MSME sector

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MSME Department, Government of India is looking for MSME manufacturers or suppliers of items in the enclosed list related to use against COVID-19. 

Please refer to the below list of Medical Supplies (39 Items) and Auxiliary Supplies (61 Items) and send details of products you manufacture or supply or know any entity doing it, along with contact details to:

MSME- Development Institute, Ministry of MSME, Govt. of India
Kurla Andheri Road, Sakinaka,
Tel.: +91-22-28576090/3091/7166
Fax.: +91-22-28578092
email : dcdi-mumbai@dcmsme.gov.in

Items List

  • Ventilators
  • Alcohol based hand-rub
  • Face shield (eye, nose & mouth protection)
  • N95 Masks
  • Latex single use gloves (clinical)
  • Reusable vinyl / rubber gloves (cleaning)
  • Eye protection (visor / goggles)
  • Protective Gowns / Aprons
  • Disposable thermometers
  • UV tube light for sterilization
  • Medical masks (surgical / procedure)
  • Detergent / Disinfectant
  • Single use towels
  • Biohazard bags
  • Wheel Chair
  • Glucometer with strips
  • Medicine
  • IV Fluid – DNS
  • IV Fluid – Dextrose
  • Hard-frozen Gel Packs
  • Sample Collection Kit
  • Thermocool box / Ice-box
  • Stretcher
  • Thermal scanners
  • Batteries for thermal scanners
  • BP apparatus
  • IV Sets
  • IV Cannula
  • IV Stand
  • Ambulance
  • First aid
  • Medical Waste Incinerator
  • ICU Beds
  • Cardiac monitors
  • Syringe pumps
  • Portable x ray machines
  • Endotracheal tube
  • Suction tube
  • Oxygen cylinders

  • Soap
  • Rubb Hall Tents
  • Chairs/Benches
  • Tables/Desks
  • Printer
  • Computer
  • Extension Boards
  • Matches
  • Candles
  • ID for Patients
  • ID for volunteers
  • Flyer – information booklet
  • White board + markers
  • Rooms for Volunteers
  • Garbage bags, bins
  • Drinking Water+ Dispenser (4)
  • Cleaning items (Brooms)
  • Cleaning items (Mop)
  • Fire extinguisher
  • E Toilet
  • Genset / Back up
  • Whistle
  • Tool set – basic
  • Registration details – sticker/printer
  • Mattresses
  • Foldable Cots / Beds
  • Bed sheets
  • Pillows
  • Pillow Covers
  • Towels
  • Rubber Sheets
  • Blankets
  • Emergency Lamp
  • Food
  • Food Waste
  • Other Waste
  • Laundry (Detergents)
  • Refrigerator – smallest
  • Electrician / Plumber
  • Entertainment for inmates
  • Internet access
  • Tokens with number
  • Mosquito Repellent
  • Sanitary Pads
  • Diapers – kids
  • Steel Plates
  • Steel Glasses
  • Spoons
  • Jugs
  • Stove – Big
  • Large vessels
  • Buckets
  • Mugs
  • Tissue paper
  • Smaller bins
  • Paper
  • Pen
  • Stapler
  • Stapler Pins
  • Box file
  • Official Seal