A Patent is an exclusive set of rights granted by the Authority to the Applicant of an invention for a period of 20 years under the Patent Act in India.
Patent is a legal document, which gives an inventor the exclusive right to make, use, and sell an invention for a specified number of years.
What is patentable?
To qualify for a patent, the invention must meet three basic tests.
Protects Invention, Ideas and Concept
Patent Is an intellectual property which protects your invention and prevents other to use it without your prior permission. Ideas and Concept also eligible.
Right Preference for first applicant
Even first step of patent registration, i.e. patent filing itself (Provisional Application) security and surety that no other person could claim the same invention for 12 months. After which non-provisional application has to be filed with complete claims and description. Meanwhile, If someone tries to claim the invention as theirs, then their request will get rejected for filing period.
You got exclusive right for 20 years. Therefore the patent holder retains an absolute monopoly on product or process for the period of patent.
Patent rights can be licensed to other companies to receive royalty payments
Sell or Transfer against Consideration
You can sell or transfer the patent right to other against fair consideration.
Helps in Building business
With your patented innovation, you can use it to grow your business
A patent is an Intangible assets in Books of accounts like other Fixed Assets. Its value in the Books recorded at Cost Model or Revaluation Model. For More details of Valuation See Accounting Standard 26 issued by ICAI.
Professional's Novelty Search Report
For Individual Applicant ( Filing at Idea, Concept and R&D Stage) ( Otherthan Non Biological/Chemical Invention)
For Entity Applicant. ( Filing at Idea, Concept and R&D Stage) ( Otherthan Non Biological/Chemical Invention)
For Individual Applicant. ( Otherthan Non Biological/Chemical Invention)
For Entity Applicant. ( Otherthan Non Biological/Chemical Invention)
In case of Opposition filed or need Response to Examination Report
Provisional/ Complete Application for all kind of applicant. Fee varies.
For all kind of applicant. Fee varies.
if looking for fast processing of Departmental works. Extra Govt Fee
Fee depends case to case
|Disclosure of Invention to Professional/Agent||This is first step to start processing your Patent registration. Need to hire a Professional ( or Patent Agent) by signing NDC (Non Disclosure Agreement ).
Here you need to disclose your Details of your Invention, Description diagrams and experimental result, without hiding anything.
|Novelty Search (or Patentability Search)||A Novelty Search or Patentability Search is generally conducted in the early stages of Research & Development. This search is conducted when an inventor is interested in applying for a patent, and wants to determine whether a similar or identical invention already exists.
In this phase, patent professional performed an extensive search for prior art in all possible databases for patent, articles, thesis etc. and based on that a Search report prepared which helps to determine that an application for Patent could be filed with authority. The main purpose of Novelty Search is to get Professional Opinion on Novelty/Uniqueness, Inventive Step and its Applicability in the industry before you go for Filing. That saves your cost.
IT IS OPTIONAL FOR APPLICANT.
|Decision to file Patent application||Based on Novelty Search Report of Professional OR At your own option you decide to go for Patent Application Filing with Authority and Hire a Professional ( or agent) to avoid any mistakes.
# IF at Early Stage of R & D, Ideas and Concept stage – Opt ‘Provisional Patent Application’.
# For Completed Innovation ( or Project) – Go for ‘Complete Patent Application’ . Here again have option to Opt Ordinary Application ( tame taking process ) or Priority Application ( with extra Govt. Fee saves processing time)
|Drafting Application||Next job is Drafting of patent application. It is specialised job and requires both technical (field of invention) and legal (Indian patent act) understanding.
A patent is a techno-legal document Writing patent application as a technical document without considering legal aspect may be a mistake which can make your application not worth a lot. And all the efforts you took for research and development can go waste.
Hence, right Patent professional (or agent) with appropriate experience can remarkably add value to patent application.
|Filing of Application||Once your application drafting is completed and checked properly, next step is to file the patent application in prescribed manner. That is in the appropriate forms along with Govt. fees. Govt. Fees varies based of type of applicant.
If you do not opt for early publication (with extra Govt fee varies 2500 to 12500, publish in one month) the patent application will be published on expiry of 18 months.
|Request for Examination||The request for examination is to be made within 48 months from the date of filing the patent application, in the prescribed form along with fees.
This request is basically made to Indian patent office to examine your patent application.
|Respond to objections||If there is any objection raised by the Examiner based on his examination, you have the the option to file Response against the Examination Report.
This is a chance for an inventor to communicate his novelty or inventive step over prior arts found in the examination report. The inventor and patent agent create and send a response to the examination that tries to prove to controller that his invention is indeed patentable and satisfies all patentability criteria’s.
|Grant of Patent||When all the stages are successfully passed and meet compliance and eligibility requirements, Patent is granted and goes for Publication.|
Explanation: For the purposes of this clause, salts, esters, ethers, polymorphs, metabolites, pure form, particle size, isomers, mixtures of isomers, complexes, combinations and other derivatives of known substance shall be considered to be the same substance, unless they differ significantly in properties with regards to efficacy.