Patent is a type of an intellectual property and an exclusive right given by the government of a country to the owner of an invention, which is a product or a process, to make, use, manufacture and market the invention. To get a patent, technical information regarding the invention must be disclosed to the public in a patent application.
WHAT IS PATENT?
The term “PATENT” has been derived from a Latin word ‘patere’ which means ‘to lay open’. A patent is usually referred to the rights granted for invention to an inventor. It is also available for an improvement in one’s previous invention. The 3 basic tests for an invention to be patentable are, Novelty, Non-obviousness and Utility in the society. After the expiry of the duration of patent, anybody can make use of that particular invention. The patent property can be sold by the owner of the patent and the owner can also grant licenses to others to exploit the patent. A patent granted in one particular State cannot be enforced in another State unless the concerned invention is not patented in that State too.
WHAT CAN BE PATENTED?
As per the Indian Law, the requirements which have to be fulfilled to get patent in India are given below:-
- The subject-matter should be patentable in nature.
- Novelty means there should be something new steps and ideas.
- Non-obviousness i.e. there must be something which is termed to be an inventive step, having non- clarity or not obvious in the society.
- Capable of industrial application means it should have utility in the society and the market.
WHY YOU SHOULD PATENT YOUR IDEAS, INNOVATION OR PROCESS?
If any person has invented something, he should patent his invention immediately. Patent takes a long time to process and costs a lot as well. Still, he must do it. The following are the reasons that why one should patent his ideas, innovation or process:
- Protect against copying: It’s a hard process to convert an idea to market your product or service. You need to share your concepts with investors and other partners so that you can get your idea to the market. After having a provisional patent, no other person will be able to steal your idea or concept.
- Protect the company’s ability to do business: To protect the company’s ability to do business, the patent is require as if you don’t patent your invention, someone will copy it and enter the market with your product. You may also lose the right to compete if that person files a patent for that product. If this happens, all your efforts and money will be wasted.
- Increase market position: If you have a patent portfolio, you will increase the market position by preventing other companies from competing in your specific position. You will thus get a better market position, and the competition will be low. So, you will get a good return on investment for your company.
- Get licensing fees: You may not be able to commercialize your concept finally. But there may be some other organization that has more resources and ready to invest with you. Then, you can get monetary and other benefits by providing license to that organization for the use of your patent property.
Every innovation or an idea is not capable for grant of a patent. In order to obtain patent an invention has to fulfill some basic requirements of these three tests i.e. novelty (newness), non-obviousness and utility (usefulness) in the market. Even if these basic conditions are fulfilled still the patent may not be granted if it is prohibited under the law. Hence, one should obtain patent after fulfilling the essential requirements and according to the law of patents in India
