There are numerous benefits of the patent system in the business showbiz. Filing a patent gives an individual or a business, the right to maintain the originality of their product or services and prevent others from copying, manufacturing, importing or selling the same product as of yours without your permission. Licensing a patent can provide you with an important source of revenues for your business and the best part is you can even license your patents for others to utilize or even sell it as you can do with any asset. There are many ideas and other creative things for which the patent can help the inventor save his idea from being copied or implemented without his permission. Hence those who are creative it is much important to have protection against the
Patent filing principles in India
The term for a patent in our country is 20 years from the date you file the patent. Whether the patent is filled with complete or provisional specifications isn’t taken into account while determining the patent duration. The documents which are involved in the Patent registrations procedure include statement and undertaking, proof of right to make an application, a declaration to inventorship and the authorization of an agent. There are also three types of applications termed as an Ordinary application, non-provisional application and convention application.
Steps for the patent process in India
- Firstly you have to decide that you are going to work for the patent application process on your own or want to hire a professional for the same. Hiring an agent will be more convenient as people don’t have any prior knowledge about the patent principles prevalent in India.
- Then you have to check the patentability of the business or invention by searching for similar results.
- The next step is to draft a well-written patent application following the etiquettes of whether it is a provisional or a complete one.
- After this, you have to file the Patent application India.
- The publishing of patent application follows this by the Indian patent office in the official patent journal.
- Then finally you have to request for examination of the patent application, and once the patent application overcomes all objections, the patent will be granted.
- As the maximum period for which a patent is valid is 20 years, so the patent needs to be renewed after every 20 years.
How much would it cost to file a patent?
The patent process can take a maximum of 5 years for being granted and needs to be renewed after every 20 years, so there are various costs involved in a patent process like government fee, professional fee, and various other documentation charges. Taking a rough idea of the patent process, the patent takes near about 45,000 rupees, and if you have hired an agent or an attorney, then the brokerage charges also gets included. But taking into sight the economic benefits of the patent system these costs can be neglected.