Inventor can earn profit from invention – Patent Registration in Coimbatore
Inventor can find a licensee to license his invention
Finding a large company to license their invention is a common route chosen by inventor. It is very difficult to find a company interested in licensing an invention. Those with the highest chance of success will be those who are recognized experts their field, and/or those who have a pre-existing relationship with the prospective licensee. Inventor must be careful how he presents his invention to prospective licensees. Many companies have ‘idea submission’ web pages. However by clicking ‘submit’, you agree that they are free to use the idea unless it is the subject of an issued patent, using these pages is a bad idea. Sometime even without using these pages, inventor will often be asked to sign an agreement. Some of these agreements are reasonable, some are unreasonable, and all will protect the prospective licensee from liability for using anything that their own employees develop independently. Any document that is being asked to sign should be reviewed by the patent attorney of inventor before signing them. Before working with these companies, their track record must be investigated carefully before proceeding.
Using a ‘crowd-funding’ website
Inventor can use “crowd-funding’ websites to commercialize appropriate inventions. Crowd-funding has a broad, commonly understood definition, as well as a narrower definition. The broad definition includes websites where product pre-orders and other ‘rewards’ are provided in exchange for funds, while the narrow definition refers to the exchange of equity for funds, and is regulated by the Securities and Exchange Commission. Crowd-funding provides the advantage of simultaneously test-marketing while raising funds, while retaining 100% equity in the business. This avoids the many complications that can arise when equity in the business is surrendered. A good crowd-funding campaign will require a good working prototype of your invention, a good video showing how the invention works and its advantages, and a good explanation of why people should want the invention. Traffic should be driven to the campaign through social media and other adretising. Crowd-funding is an important aspect of commercializing the invention, but is not the only aspect. Inventor should begin any commercialisation effort by preparing a business plan specifying the necessary steps and how each will be accomplished.
Commercialization of your invention
Proceeding on an investor is often a necessary and helpful step in the growth of a business. It is also a risky step, and proceeding with the wrong investor and/or proceeding on an investor the wrong way can be tragic. Inventor should only take on partners who share his goals, values, and ethics, and who are actually as capable, dependable, and trustworthy as they represent themselves to be. On the one hand, the investor is going to expect something of value in return for his investment. It is also possible that the investor brings business savvy people which when, combined with technical knowledge of the invention, help both to succeed.
If inventor is willing to respect each other’s knowledge and work together accordingly, this can be very beneficial. On the other hand, it is possible that the investor has different goals and/or ethics than inventor. Inventor also needs to be careful about how, and how much, equity in the company he gives up. Depending on the specific business form he uses, it may be possible to separate ownership equity from decision making authority in a mutually agreeable way. The value of his business will start out low. As he progress towards bringing the invention to market, his business will hit certain milestones that will increase his value. If he tries to get all the funds need at once, he should give up too much equity in the business. Instead, try to get enough funds to hit the next milestone, and then seek additional funds based on a now increased company value. The agreement with any partners should specify everyone’s responsibilities as well as what happens if those responsibilities are not met, and should provide a fair way out in case exiting the partnership becomes necessary.
Patentee require a registered patent attorney
An inventor itself cannot prepare and file his patent application, trademark application, or copyright application. Generally it is not recommend. Intellectual Property is a critical asset that needs the best possible protection. Protecting the intellectual property is not only necessary to prevent theft by competitors, but also to attract the investors that may be necessary for commercialization of the invention. This protection can best be achieved by an experienced intellectual property practitioner. A patent application is drafted to take into account changes that a competitor may make to the invention. The claims of the application that define the scope and limitation of the exclusive right must be carefully drafted; a task which requires years of experience to ensure that it is done well. The rules for issuing and overcoming obviousness rejections are complex and changing. The proper foundation for responding to such rejections must be laid during initial drafting of the application by a patent practitioner who is familiar with the process. Once a patent registration in Coimbatore application is filed, no new matter can be added to the application. If mistakes are made, they can be very difficult to correct. Trademark applications may seem simple, but the simplicity is deceiving.
Trademark rights accrue from use of the mark, not from registration. Therefore, ensuring that the mark does not infringe someone else’s rights requires consideration of marks found in a wide variety of sources, far beyond the federal and state registration records. Proper counselling in the selection of marks can avoid not only potential liability, but also wasted time and resources pursuing registrations for marks for which trademark protection is unavailable. The apparent simplicity of copyright applications can also be deceiving, particularly if elements of other works are incorporated in the work. In this case, it may be necessary not only to name the underlying work in the application, but also to negotiate a license with the owner of the underlying work. Doing a job properly the first time is always easier and less costly than trying to repair mistakes later and also ensures that rights will not be lost as a result of mistakes or omissions. There is no shortage of untrustworthy companies looking to take advantage of the efforts of new inventors. Based on the experiences of clients who approached or used such companies before maintaining, proceed with caution and investigate any such company thoroughly before maintaining them.
‘Claim priority’ of an earlier patent application
A patent applicant who wants to provide protection to their invention in multiple countries, normally first file a national or regional patent application with their national or regional patent office, and within 12 months from the filing date of that first application, they file their international application under the PCT. The effect of claiming the priority of an earlier patent application is that a patent shall not be invalidated by reasons of any acts capable in the interval, such as another filing, the publication or sale of the invention. An international patent application can be filed in any language which the receiving office accepts. If you file an application in a language which is not acknowledged by the ISA that is to carry out the international search, a furnished translation of the application for the purposes of international search will be required. Receiving offices are, however, thankful to accept filings in at least one language which is both a language accepted by the capable ISA that is to carry out the international search and a ‘publication language’ that is, one of the languages in which international patent applications are published i.e., Arabic, Chinese, English, French, German, Japanese, Korean, Portuguese, Russian and Spanish. Therefore there always have the chance of filing your international patent application in at least one language from which no translation is needed for either PCT international search or publication purposes.
International search report
The international search report includes mainly of a database of references to published patent documents and technical journal articles which might have an effect on the patentability of the invention disclosed in the international application. The report consists of indications for each of the documents listed as to their possible significance to the critical patentability questions of novelty and inventive step (non-obviousness). Together with the search report, the ISA prepares a written opinion on patentability, which will provide you an elaborated analysis of the potential patentability of your invention.
Value of the international search report
The report allows you to assess your chances of obtaining patents in PCT Contracting States. An international search report which is beneficial, that is, in which the documents (prior art) cited would appear not to prevent the grant of a patent, assists you in the further processing of your application in those countries in which you desires to obtain protection. If a search report is unfavorable for example, if it lists documents which challenge the novelty and/or inventive step of your invention, you have the opportunity to amend the claims in your international patent application, and have them published, or to withdraw the application before it is published. An international search is carried out for all international applications as per the rule. There are some examples, however, where the ISA unable to carry out a search. For example, where the international application associated to subject matter which the ISA is not required to search or if the description, claims or drawings are not sufficiently clear for it to carry out a meaningful search. In such cases, the ISA will issue a declaration that no international search report will be issued. There are also cases where the ISA will issue a partial search report. This can occur when, in the view of the ISA, the international application contains more than two inventions but the applicant has not paid additional search fees to cover the work needed to search those additional invention(s).
Written opinion of the International Searching Authority
For every international application, the ISA will set up, simultaneously that it sets up the international search report, a preliminary and non-binding opinion on whether the invention qualifies the patentability criteria in light of the search report results. The written opinion, which is sent to you together with the international search report, make you understand the results of the search report with specific reference to the text of your international application, being of special aid to you in evaluating your chances of obtaining a patent. The written opinion is made available to the public at the same time as the application.
Supplementary international search report
The supplementary international search report is generally same in data and appearance to the main international search report; it consists of a database of references to patent documents and other technical literature which may affect the patentability of the invention claimed in the international application. However, it does not repeat documents which have already been cited in the international search report, unless this is essential because of new relevance when read in conjunction with other documents discovered during the supplementary international search. On certain occasions, the supplementary international search report may include more elaborated analysis than those in the main international search report. WIPO publishes the international application soon after the expiration of 18 months from the priority date, together with the international search report. PCT international applications are published online on PATENTSCOPE, a powerful, fully searchable database with flexible, multilingual interfaces and translation tools to assist users and the public in understanding the content of published applications. No third party is allowed access to an international application, until international publication (18 months after the priority date), or the applicant request or authorize it. If the applicant desires to withdraw his application, international publication does not take place and, as a outcome, no access by third parties is permitted. However, when international publication occurs, certain documents in the international application file are made accessible on PATENTSCOPE together with the published international application.