Why Invention get Patent Registration in India
Why invention get patent registration in India
A patent is a legal protection granted to an individual so that the invention is available to the public. The patent holder may prevent others from using, selling or reproducing their invention. However, if the inventor does not apply for a patent, they will not have such powers and will not be able to make a legal complaint when someone benefits from their invention.The patent grant serves a dual purpose. First, giving recognition and monetary incentives to the inventor encourages others to invent as well, thereby leading to the technological and scientific development of the country.Second, by making the invention available to the public, everyone will be able to enjoy its benefits.In India, patents are administered by The Indian Patent Act, 1940.Patents are granted by Patent registration in Coimbatore for inventions in any technology, from everyday kitchen utensils to nanotechnology chips. An invention can be a product – for example a chemical compound or a process – or a process that produces a specific chemical compound. In fact most products have many innovations. For example, a laptop computer has hundreds of innovations that work together. Here we are going to see Why Invention get Patent Registration in India to make you understand in a very clear manner.
Benefits of Patent registration in India
Patent registration in Chennai gives the following benefits.
Incentives for pre-filing an application
If a person is unsure about the invention, applicant should file a patent application immediately. India follows the first to file system. So whoever files an application for an innovation first, they get a priority date. Applicant do not even have to file a complete application if the invention still needs some work. Instead, one can file a temporary application, which is inexpensive and concise. Patent registration in Bangalore states that one is guaranteed that no one will claim a single invention within 12 months of the pendency period from the date of priority. Applicant must file a non-provisional application with full claims and explanation within these 12 months. If another company attempts to file the same invention after the filing date, the patent office will reject their request.
The gift of uniqueness
Once applicant has received the patent grant it will allow person to do anything with the invention. This allows one person to stop others from copying, making, selling or importing an invention without the permission. Patent registration in Coimbatore states that if anyone attempts to use it, they will be liable for legal action in the form of a patent infringement. This applies to the entire life of the patent. For India, the term of the patent is 20 years from the date of filing. With full protection on the back, one can do anything with innovation. Among other benefits, an inventor can further improve it to optimize the solution it offers.
Production of ROI after obtaining a patent in India
Obviously, the invention will have a commercial application. Now it is up to the inventor whether one wants to commercialize it or not. Patent registration in Kochi states that one seeks ROI on the invention because inventor puts time, effort and money into it. So one needs to study the market well and plan a good way to release and sell the innovation. This way, you get monetary benefits from your invention and still retain its exclusive rights.
Creating an ROI by licensing or selling an invention
After obtaining a patent in India, there are opportunities for you to sell the patent or obtain a license. Sometimes, commercializing your own innovation can be a burden. So you can license another company to use it. Patent registration in Hyderabad states that this way, you can take the money for the license and generate the ROI and also have your rights. You can sell it to another company or organization for the appropriate amount of money. But it also makes you lose the rights to your own invention.
Maintaining good market position
Disclosure of innovation in the public domain indicates that you have faith in your innovation. This will help you to get better public opinion and improve your portfolio. To do business you attract leading business partners, investors and shareholders towards yourself or your company. Patent registration in Madurai states that with such a strong image in the market, you will have more negotiation power in your hand for your innovation. In India, it helps to build better relationships with competing companies. This will ultimately encourage smaller companies to participate in the industry.
Patent registration in Salem states that in simple terms the patent is an intellectual property. Patenting Intellectual property means, the inventor can enjoy the ownership and others have to pay the royalty. Hence when the patent registration is done it will prevent others from selling or importing from the inventor without permission.Invention can be product or process that will give new technical solution, with improved techniques involved. Patent is a separate domain under which you can enjoy the above said benefits.
Patent registration in Tirupur states that licensing a patent means that the patent owner allows another person / company to manufacture, use, and sell his / her patented invention. This is done in accordance with the agreed terms and conditions (e.g., defining the amount and type of payment to be paid to the licensee), for a defined purpose, within the defined territory and for the agreed period.
The patent owner may issue a license to a third party for a number of reasons. The patent owner may not have the necessary manufacturing facilities, so others may choose to allow others to make and sell his / her patented invention in lieu of “royalty” payments. Patent registration in Trichy states that alternatively, the patent holder may have manufacturing facilities, but they may not be large enough to meet market demand. In this case, he / she may be interested in licensing the patent to another manufacturer to benefit from another revenue stream. Another situation where the patent owner wants to focus on a geographical market; the patent owner may therefore choose to license another person / company with an interest in other geographical markets. Entering into a licensing agreement can help foster a mutually beneficial business relationship.