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What is a patent?

A patent is a legal proof that the holder has the right to the invention. This exclusive right protects inventors and stimulates the company’s innovative strength. Thanks to patents to a certain extent, we have been becoming more and more intelligent. Before starting this business, I had many questions about patents. You can read everything on my blog.

Looking for the best patent landscape service provider in Chandigarh?

A patent is an exclusive right to invention granted by the government. With a patent, the inventor/applicant can prohibit third parties from using, copying, or marketing the invention. The holder may also ask for royalties.

The patent is one of the most important elements of intellectual property rights. In the second half of the 19th century, the development of patents continued, which coincided with the stage of economic development, during which more and more attention was paid to proprietary technology.

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Generally, all works of companies or natural persons can be recorded, including songs, sheet music, books, prototypes, or industrial products and brands. In this article, we will discuss the utility of patents from a business perspective.

The exclusive patent right is temporary, and in principle, the maximum period of validity is 20 years. However, this period can also be shortened, because when the holder stops paying the government the annual renewal fee, the period is no longer valid.

Why patent is important?

Basically, applying for a patent on an industrial prototype or product ensures that you and your company will use the product exclusively for a certain period of time, or if you share the product with other companies, they will have to pay you royalties.

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From a commercial protection perspective, large companies are accustomed to applying for patents for all inventions that they believe will bring benefits in the short or medium term. Therefore, they ensure that they are paid for their invention within a certain number of years.

It is very important that if an invention is not patented, the competition will have the right to use the invention freely without paying any form of fees. In any case, as the law provides more and more guarantees, the agency responsible for processing the request must give a clear answer within a certain time limit and maintain its seniority level.

The main consideration for the exclusivity of a patent is your obligation to develop a patent or utility model yourself or through another licensor. Or serve the company, once the protection period ends, you can use it without restrictions.

Similarly, if the patent is invalid or the corresponding annual fee is not paid, the term of protection may expire, leaving the inventor or company unprotected.

The validity period of a patent varies from country to country, although it is fixed at 20 years in Spain. However, the inventor is obliged to use it within four years from the date of filing the application, otherwise, the application may expire and become part of the public domain.

There are some exceptions to shorten this period from utility models to 15 years or extend it to 5 years (such as for drugs and pesticides), which can be extended to 5 years by requesting a supplementary certificate of protection (CPS).

Types of Patents?

There are mainly 3 types of patent law that you can go for.

1. Utility Patent:- Utility model patents can be said to be the most common type of patent sought by inventors. This type of patent revolves around the composition of the useful, novel, and obscure substances, processes, manufactured products, and machines. Inventors and inventors can also obtain utility model patents to make beneficial and novel improvements to the existing components of substances, processes, manufactured products, and machines.
2. Design Patent:- Legal drawings refer to the surface decoration of an object, which can include the structure or shape of the object. In order to obtain design patent protection, the inventor or innovator must ensure that the design and the goal are inseparable.
3. Plant Patent:- Inventors and innovators can obtain patent protection for their novel and unique factories. In order to obtain this type of patent protection, there are some requirements, as follows:

• The plant can’t be a tuber propagated plant, i.e., an Irish potato
• The plant can be asexually produced
• The plant can’t be found in an uncultivated state

Each patent covers a specific type of discoveries and has different eligibility requirements. Select the one your invention falls under.

According to patent law, there can be more than one type of protection patent available for one discovery or invention.

Like, A person invents an object and prepares to apply for a patent for the design and functional features of the object. In this case, the inventor will need to apply for two separate patents, namely a design patent and a utility model patent.

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