Importance of Patent Registration in Coimbatore
Importance of patent registration
A patent is a privilege granted by the government to a person who invents any new and useful device, software, products or processes. The provisions of the Patent Act, 1970 protect inventions made by an individual. Here we are going to see Importance of Patent Registration in Coimbatore to make you understand in a very clear manner.
Who can apply for a patent?
The following are individuals who can apply for the Patent registration in the patent office alone or jointly or any other person: The inventor of any device or process himself, the inventor is the inventor’s assigned deceased inventor or the legal representative of his assigned.Under patents law, the term person is defined as government.
Patent Act 1970
The history of patent law in India dates back to 1911 with the enactment of the Indian Patents and Designs Act. Subsequently, in 1972, the current Patents Act 1970 came into force, amending the patent law established in India. The patent law must be based on the recommendations of the Justice on Report, Iyengar Committee headed by Iyengar Rajagopala. One of the recommendations is to grant process patents for drug, drug, food and chemical inventions. The Patents Act, 1970 was amended once again by the Patents (Amendment) Act, 2005, in relation to the expansion of product patents in all areas of technology, including food, medicine, pharmaceuticals, chemicals and microorganisms.
Patents law is a subcommittee of intellectual property laws and a branch that deals with new inventions. Under the Patents Act 1970, there are two types of patents, namely product patents and process patents. Product patent The end result or product and process patent registration in Bangalore of a product is the journey of the patent produced. According to patent law, both processes and products are new, have an innovation stage and are eligible for innovation if they have the potential for industrial application.
Section 2 (1) (j) of the Act defines ‘innovation’ as a new product or method that requires an innovation phase capable of industrial use. The term ‘industrial application’ refers to an invention that is capable of industrial application, indicating that the invention has the potential to be produced or used in the industry. Some of the preconditions of the invention are that it is new, i.e. the technology submitted for the patent registration in Chennai is not in the public domain or part of the state of the art. The patent is defined under Section 2 (m) of the Act.
The inventor has the Eureka moment. Your company recognizes the idea as a valuable intellectual property. You want to turn the concept into a patented invention. So far, this route has several stages of documentation, review and approval. The next step is to conduct a patent search before filing.
Everyone should invest in a thorough examination of the pre-art before applying for patent status. Maintaining a patent requires high cost, attention and comprehensive research. Knowing the status of the art increases the chances of developing a patent registration in hyderabad that can be issued and prevents you from obtaining a patent that does not pursue litigation. The disclosure of information provided to the patent office identifies the most relevant antecedent art in the statement, ensuring that examiners consider it and are part of the record. In fact, some people have an obligation to do so. Furthermore, knowing the previous art will help you file a set of claims with the patent application, which will reveal the different differences of the patent that make your invention novel and vague.
Importance of patent registration
Patent protection is valid for a certain period of time, which keeps competitors at bay. In India, the patent is valid for twenty years from the date of filing the patent application. The main advantages of patent protection are:
The invention escapes theft
By filing a patent application and obtaining a patent registration pendency, the investor will be followed by any application of the potential licensee. So, it will automatically become junior to your patent application.
High profit margins
The patent registration grant allows its owner to exclude others from selling, using, supplying and manufacturing their invented product. If market demand for a patented product increases, excluding others will reduce product supply in the market. The owner can get high profits for their product
Patents act as a barrier to potential competitors planning to enter the market with their product or service. Competitors feel that breach is more dangerous compared to profit rewards. In addition, patent registration owners may be charged for providing a patented product against a competitor.
The two parties to the lawsuit will sue each other, including for patent infringement. In some cases, both owners may settle for cross-licensing of their patented technologies. This avoids the issue of litigation.
Market share expansion
Patented technology can be licensed to others in a variety of geographical markets. A patent holder licensed to sell a patented product outside the patent owner’s geographical market will pay a regular royalty payment to the patent registration owner. In addition, the licensing of patented technology is open to those in various fields of technology. For example, a manufacturing market may license a patent to a seller who holds patent rights.
Requirements to qualify as invention to be patented
The invention must be new, the invention must be a novel, the invention must not exist;
Innovation must be ambiguous, i.e. innovation must be a significant improvement over the previous ones; A change of technology does not give the patent right to the inventor;
Innovation must be useful in a bonafied manner, meaning that innovation must not be used in any illegal work and may be useful to the world in a bonafied manner.
An innovation must have an innovation phase;
The innovation must have an industrial application or utility;
This invention does not fall under non-patented inventions as defined under Sections 3 and 4 of the Patent Act of 1970.
Recent news on Patent
The government has simplified the patent registration rules and allowed to specify approximate value and revenue instead of providing accurate details of quantum and manufacturing and import value. Patent (Amendment) Terms 2020. Now a statement on the commercial work of the patent must be filed within six months instead of three months as previously indicated.
The Department for Promotion of Industry and Internal Trade (DPIIT) may, in a notification, state that a form may be filed for multiple patents, if all relevant patents are derived separately from the approximate income / value derived from the relevant patents, and all such patents. Are issued for a single patent.