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What is a Patent?
Patents are a right granted to an inventor that allows them to exclude all others from making, using, or selling their invention. A patent is a form of intellectual property. The patent rights are granted for a limited period of time in exchange for complete public disclosure of the invention.
Who can file a Patent?
Any person who is the first and true inventor of an invention can apply for a patent in regards to that invention in the patent office.
An application for a patent may also be filed by a legal representative of a deceased person who was entitled to such patent before his death.
What are the benefits of filing a patent in India?
Certain benefits of filing a patent in India are as follows:
i) A patent is a form of encouragement for innovations and inventions. Once an applicant is granted the patent, he or she becomes the exclusive owner of the invention or the idea.
ii) Filing a patent in India is important for a business as the patent restricts its competitors from copying, selling, or importing its intellectual property without prior permission. This way the patent holder can protect his patent rights in support of the existing laws of the land.
iii) Patents can be sold and licensed like other forms of property
iv) A patent is just like any other intellectual property and can be transferred by the inventor.
v) A patented product is likely to improve brand perception and potentially enable your business to charge a premium.
Requirement for invention to be Patentable?
Inventions must meet the patentability requirements such as:
i) Novelty
ii) Non-obviousness
iii) Usefulness
iv) Patentable subject matter
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Note: This Post was last updated on January 24, 2023
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