Why should you file a Patent in India?
Why should you file a Patent in India?
In today’s India, where innovation spreads across various sectors, protecting your ideas is more important than ever. A patent registration in India grants you exclusive rights over your invention, preventing others from copying it and getting the rewards of your hard work. A patent is valid for 20 years from the application filing date. You must file a patent to gain legal rights and control the production and usage of your invention. This article explores the various reasons to file a patent in India and how to apply.
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A patent is an exclusive legal right granted by the Indian Government to an inventor for their invention. This invention can be a new product, process, or design. The patent registration in india prevents others from making, using, selling or importing the invention without permission for a limited period, typically 20 years. This gives the inventor a chance to recover their investment and earn a reward for their creativity. The Indian Patents Act 1970 governs applying for and granting patents in India. In contrast with trademark registration, which protects brands, logos, and slogans, a patent protects new inventions, products, or processes.
Also Read: Types of Patent Application
7 Reasons to File a Patent in India
Patent registration in India gives various advantages over your invention. The following reasons emphasizes the benefits of filing a patent,
Reason 1: Patent Provides Legal Protection
A patent provides legal rights to the patentee for a limited period by the Government of India. It excludes others from making, using, or importing the patented product or process without the consent of the patent’s owner. Remember, it only offers territorial rights and is valid within the territory. However, when filing an application in India, you can file a corresponding application in conventional countries or under PCT within or before twelve months from the filing date in India. You need to get a patent for your invention in each country where you want legal protection.
Reason 2: Patent Prevents Infringement
A patent is a powerful tool for preventing an inventor’s intellectual property infringement. It gives exclusive rights to the patent holder, prohibiting others from making, using, or selling the patented invention without authorization. By deterring potential infringers through legal recourse, patents safeguard the inventor’s innovation and investment, ensuring fair market competition.
Reason 3: Patent creates a unique market presence
Securing a patent protects an invention and establishes a distinctive market presence for the inventor. With exclusive rights to their innovation, patent holders can differentiate their offerings from competitors, positioning themselves as industry leaders in innovation and technology. This unique market presence enhances brand recognition and consumer trust, driving demand and loyalty for the patented product or service. Your invention will have a better reputation and attract the people.
Reason 4: Patent attracts Investors
Patents are valuable assets that attract investors seeking to capitalise on innovative technologies and intellectual property. A granted patent demonstrates an invention’s viability and market potential, providing assurance to investors of potential returns on their investment. By showcasing patent protection, inventors can secure vital funding and resources to develop further and commercialize their innovations, fueling growth and expansion.
Reason 5: Patent provides freedom
Inventors can file a patent in India to explore and exploit their innovations without constraints. With exclusive rights granted by the patent, inventors can freely license, sell, or collaborate on their invention, maximizing its commercial potential and market reach. This freedom empowers inventors to leverage their intellectual property strategically and confidently adapt to changing market dynamics.
Reason 6: Patent helps you to get a Collateral Loan
A granted patent can serve as valuable collateral for securing loans or financing, providing inventors access to capital based on their intellectual property holdings. Lenders recognize patents as tangible assets with intrinsic value, allowing inventors to leverage their patents to fund further research and development initiatives or scale their business operations effectively. Since it is a real and valuable asset, a lender can give loans or credit facilities. However, it is better to consult with the chosen bank.
Reason 7: Patent drives innovation
Patents drive innovation by incentivizing inventors to pursue groundbreaking discoveries and technological advancements. The prospect of patent protection encourages inventors to invest time, resources, and creativity into developing novel solutions to pressing challenges. Additionally, patents give inventors the recognition and reward they deserve for their innovative contributions, inspiring continued progress and development.
Learn about Patents 2nd Amendment Rules 2020
How to Apply for Patent Registration
Here’s a breakdown of the key steps patent filing procedure in India:
1. Conduct a Patentability Search:
- Before investing in a patent application, conduct a thorough search to assess the novelty and inventiveness of your idea. The Indian Patent Office website offers public search tools to help you check for existing patents.
2. Prepare Your Patent Application:
- Gather the required documents for patent registration, including:
- Form 1: Application for grant of a patent (applicant details and invention description)
- Form 2: Provisional/Complete Specification (detailed technical description with drawings/diagrams)
- Declaration as to Inventorship (Form 5)
3. File Your Application:
- Submit your completed application and the prescribed fees to the Indian Patent Office or any designated office. Consider seeking professional assistance from a patent agent or attorney for guidance.
4. Examination and Publication:
- The Authority will examine your application to ensure it meets all the patentability criteria. If successful, your application will be published in the Patent Office Journal.
5. Respond to Objections (if any):
- You may receive objections during the examination. You can address these concerns and amend your application accordingly.
6. Grant of Patent:
- Once all requirements are met, the Indian Patent Office will grant you a patent, which provides exclusive rights over your invention for 20 years.
This procedure encompasses various kinds of patents, including design patent in india.
Note: To maintain your patent rights beyond the initial 20 years, you must pay renewal fees at prescribed intervals after the initial patent filing procedure in India. The Indian Patent Office website provides detailed information on renewal procedures and associated costs.
Learn more: How to file a patent in India?
Conclusion
India provides protection for original works or ideas through various forms such as patents, copyrights, and trademarks. Filing a patent in India safeguards your innovative idea and grants you exclusive rights for 20 years. This helps you to take legal action against copycats, control your invention’s use, and potentially attract investors. With a s design patent in India, you can establish a strong market presence and motivate further innovation while ensuring you receive the rewards for your creativity. Remember, patent renewals are necessary to maintain long-term protection.
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