All about Patents

Patent:

It is the exclusive right granted to the owner of an invention that is

·      Non-obvious

·      New

·      Capable of industrial applications

·      Involves and inventive step

It protects the functional expression of the idea.

A powerful business tool for companies

Validity: 20 years

Patents are a territorial right.

In return for exclusivity, the applicant has to disclose the invention to the public.

Invention: New and inventive solution to the technical problem. Involves an incremental improvement to a product/process.

Innovation: Translation of invention into a marketable product/process.

Why should you patent your product?

1.     Strong market position and competitive edge:

a.     Gives exclusivity to the owner.

b.     Without owners consent, no one can sell, use or distribute the product.

2.     You can earn additional income by licensing your product.

3.     You gain easy access to new markets.

4.     It can gain a positive image for your business, as people usually believe that having a patent means you have a high level of expertise in a particular field.

What can be patented?

There are a few requirements for your product to be eligible for a patent:

1.     Should be new

2.     Involves an inventive step

3.     Should be non-obvious

4.     Capable of industrial application

5.    Consists of patentable subject matter

Patentable Subject Matter is defined negatively.

It is a list of what cannot be patented:

·      Discoveries and scientific theories

·      Computer programs, they may come under copyright or trade secret

·      Diagnostic, surgical methods for treatment of humans.

I. New or novelty

The invention is new if it does not form a part of the prior art.

Prior art refers to the technical knowledge available in public.

II. Inventive step:

 The invention should be truly creative that is it should be non-obvious to a skilled person in that field.

Eg. Change of size or materials is not an inventive step.

III. Utility or industrial Application

It must be useful and should have some practical benefit.