Why Opting for a Patent is Important? - Patent Registration in India

Posted by Biswajit Sarkar on July 15th, 2021

A patent gives the inventor(s) the right to prevent others from using the patented innovation. As a result, anybody other than the inventor is prohibited from using, manufacturing, or selling the patented innovation without the creator's consent. This is sometimes referred to as the invention's exclusive privilege. The inventor can use this unique privilege to commercialise his invention by consulting for Patent Registration in India.

A patent is a legal document sued by the patent office to an inventor to protect the subject matter under consideration. Simply defined by a Patent Attorney India, a patent is a government-granted exclusive right to an inventor that prevents others from using the invention without his permission. A patent is a legal document that protects an innovation.

A patent, on the other hand, will only be issued if it meets the patentability requirements. These patentability criteria are universal, with minor variations in how they are interpreted.

Novelty: To get a patent for an invention, the inventor must ensure that it has one or more novel components; otherwise, the invention will not be eligible for patenting.

Non-obviousness: In addition to originality, the innovation must be non-obvious. As is, any individual with knowledge or Patent Lawyer India of the invention's area or application must not find the invention simple and obvious.

Industrial Application: Utility models are inventive processes or embodiments that have failed to find a commercial market. If the unique and non-obvious invention has some industrial use, it qualifies for patenting and therefore meets the patentability requirements.

Let us now consider the factors that provide an understanding as to why patents are so essential.

Exclusive Rights: As previously stated, patents grant exclusive rights to the creator, allowing them to prevent others from exploiting the innovation for a period of 20 years from the date of submitting the patent application, in particular.

Strong Market Position: Because the inventor has secured the exclusive right to the innovation, they can use it by prohibiting others from economically exploiting the patented invention, therefore limiting competition and gaining a foothold in the market.

Higher Returns on Investments: After investing a significant amount of time and money in creating the idea, the creator might commercialise it under the protection of exclusive rights, resulting in a better return on investment. Of course, this is contingent on the patent's economic value. As a result, before investing in a patent through a Patent Law Firm India, the inventor must guarantee that it is commercially viable.

Opportunity to License or Sell the Invention: Often, the creator, may not want to use their creation. As a consequence, the innovator will get royalties and earnings. In certain situations, the investor can sell or licence the commercialisation rights to another company.

Positive Image for the Enterprise: Patent portfolios may be viewed as a demonstration by business partners, investors, and shareholders. The high degree of expertise offered by topic matter specialists in particular. This serves as a demonstration of the organisation’s capabilities. Furthermore, this might be beneficial in terms of obtaining finances, locating business partners, and increasing the company's market worth.

Biswajit Sarkar Advocates - IP Attorneys is a top-tier Patent Attorney Firm India with a global reach. Trademark search, trademark registration, patent search, patent registration, design registration, and copyright registration are all services they provide.