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ADVANTAGES & BENEFITS
Advantages of Filing Patent
Only owners of registered patents are allowed to take action or sue for damages in case of patent infringement. Patent protection is not enforceable for inventions that are not registered.
20 Year Validity
Patent registrations in India are valid for 20 years from the date of filing of patent application, irrespective of whether it is filed with provisional or complete specification.
Global Patent Protection
A patent registration in India can be used as the basis for patent registration in other countries, if required. Foreigners and Foreign entities can also register a patent in India, if required.
Creation of Asset
Patent registration creates an intellectual property, which is an intangible asset for an organization. Registered patent is an intangible asset that can be sold, franchised or commercially contracted.
Patent registration will provide a unique competitive edge for the business. Competitors will not be allowed to use the patented invention for similar goods or services.
Sell or transfer patent right
Registration of patent allows you sell,transfer or franchise your patent. This will help you to raise more revenue.
Why Patent Registration
On How to Register Company in India
A patentable invention can be any (1) Art, process, method or manner of manufacture, (2) Machine, apparatus or other articles, (3) Substances produced by manufacturing, (4) Computer software with technical application to industry or used with Hardware, and (5) Product patent for food, chemicals, medicines and drugs.
20 years from the date of filing for a provisional or permanent patent, the patent falls into the public domain.
The details of the invention on a CD or pen drive, along with its name, comparison with existing products, uses and date of publication (if any). Applicant information is also required.
A patentee must disclose the invension in the patent document for anyone to practice it after the expiry of the patent or practice it with the consent of the patent holder during the life of the patent.
It is, therefore, effective only in India. However, filing an application in India enables the applicant to file a corresponding application for same invention in convention countries, within or before expiry of twelve months from the filing date in India. Therefore, separate patents should be obtained in each country where the applicant requires protection of his invention in those countries. There is no patent valid worldwide.