Having a Patent Registration is important as it helps to safeguard a design, invention, product that meets certain specifications according to its practicality, rightness, and service. It is considered that a patent can protect any creation for up to 20 years. This time starts as soon as an individual files the patent.
The first step for getting a patent registration is to file a formal application to the trademark office. As soon as you publish a description of the invention, the process of publicly disclosing the product for sale and make it available for commercial use is done.
- Prestige and Positive Image of the Organization: Let’s be clear. Patents portfolio often sets the bar for the industry and investors, shareholders, general public, almost everyone, likes to associate with a patented product. A higher standard is set which generally translates into the prestige of the organization. Later, it is proven useful for increasing the market value of the enterprise or raising funds.
There is a big difference between an invention and describing its procedure. Act before it’s too late, get the best result for your work by getting the patent registration done for you own unique invention.
There are various kinds of patent application that needs to be understood, like:
- Ordinary application
- Convention application
- Provision application
- Patent of Addition
- Divisional Application
- National phase PCT Application
Steps to Get Your Patent Registration:
- The foremost step is to do a patent search fore filling up the application. As if the invention is found similar to any earlier arts then it may be challenged by the Indian Patent office. 2.
- The patent should be written in techno legal language. Give specifications of every details like area of the invention and the procedure how it is made.
- Then one is able to file an application to the Patent Registration in India. If no issues arises then you have to submit full specifications within 12 months.
- Now you can advertise your invention in journals and wait if any objection arises. If it happens then the examiner will take suitable steps.
- If no issues occurred or the examiner gets a valid reason, then the authorized body will grant the patent.
patent registration is essential
As previously mentioned, patent provides exclusive rights to the inventor and prevents others from using the invention. Only the inventor is allowed to decide the usage of the invention and that is, particularly for 20 years from the application date of the patent.
The inventor devotes a great deal of time and money to his/her invention. In the current market, competition is fierce and it's very likely that someone might steal your idea and earns benefit from it without any cost. Venture capital and Angel investors mostly put their money on innovations that will provide at least some sort protection for competitive advantage. Well, nothing gives you more competitive advantage than a patent.
Licensing or Opportunity to Sell
Since the patent legally belongs to the inventor, he/she can license or sell the invention to another person. If you do not wish to exploit the invention yourself, this decision might just put you in a better financial position.
Higher Return of Investments
Inventor puts a lot of time and money on the invention. As no one else can lawfully use his/her invention, it allows the inventor to command a price to the commercial market and thus, obtaining a higher return on the investment
Patent Registration Fees
While we are focusing on solving the Human Resources of the businesses, their owners can have more time and focus on their core responsibilities.