What Is Patent?
A patent is a grant from Government, which confers on the grantee for a limited period of time, the exclusive privilege of making, selling and using the invention for which a patent has been granted and also of authorizing others of doing so.
What are the requirements of Patent?
Requirements of Patents are:
- The subject matter should be new. This is test of novelty.
- It should be useful. This is test of utility.
- It should be an invention. It should be non-obvious.
- It should be a manner of manufacture, i.e. it should be capable of industrial application.
- Vendibility test (i.e. test of marketability) is important - the subject matter should have commercial purpose.
Any invention which satisfies the definition of invention given in the Act may be patented. Invention means a new product or process involving an inventive step and capable of industrial application. Inventive step means a feature that makes the invention not obvious to a person skilled in that art. Capable of industrial application in relation to invention, means that invention is capable of being made or used in an industry.
Advantages of Patents :
- A patent gives the inventor the right to stop others from manufacturing, copying, selling or importing the patented goods without permission of the patent holder.
- The patent holder has exclusive commercial rights to use the invention.
- The patent holder can utilize the invention for his/her own purpose.
- The patent holder can license the patent to others for us. Licensing provides revenue to business by collecting royalties from the users.
- The patent holder can sell the patent any price they believe to be suitable.
- The patent provides protection for a predetermined period (20 years) which keeps your competitors at bay.
- Patents are partially responsible for advancements in medical science, biotechnology, drug chemistry, computers etc.
- Patents reward inventors with the aforementioned advantages and hence, creates bigger and better discoveries.
What is our role?
We aim to provide a patent function for organizations which require in-house expertise and service without incurring the expense of appointing full time personnel. We will undertake most types of patent work typically provided by an in-house patent function, including patent drafting, prosecution and opposition, and will advise on patentability, infringement and right-to-practice matters. We also provide advice regarding intellectual property management and strategy for organizations which use intellectual property as a key component of their business strategy, and can assist in due diligence for acquisitions, disposals and financial investments