The permanent patent is an exclusive legal right of an inventor, giving him/her the legal authority to prohibit others from making or using a particular invention. This right vest in the patent for 20 years, after which the invention comes into the public domain so that the invention is open for others to use. The 20-year validity is set for motivating people into inventing more or making additions to their invention. The patent holder has the right to sue anyone who infringes the patent and decides on who to sell, assign, or license the said patent.
Benefits of Patent Registration
Exclusive authority over your invention
Registering a patent gives patent holder the right to exclude others from using patented inventions without the patentee’s permission. On the other hand, the patent owner can choose on whom to give the permission to use under agreed terms and hence keeping competitors at bay.
Buys Time to make required changes
If an invention is patented, indirectly surge the brand recognition and conceivably empower the business to charge a premium price to the customers. Especially, if a product that has great usefulness in the market would help to expand the valuation of the patentee’s business.
Sue the third party in case of infringement
It gives the patent holder the legal right to file a case of infringement if anyone tries to exploit the patent without the owners’ permission. The patentee, his/her assignee, licensee, or agent has the right to institute a civil suit in a court not lower than District Court in a case of infringement.
The patent is a great asset and has a potential to extract way bigger monetary benefits than any other intellectual property if managed intelligently. The owner can license, assign or sell its patent whenever needed. Many pharmaceutical companies have made great profits through their patented products by ways of licensing, assigning, etc.
Documents required for filing a Permanent Patent Application
Title of the invention
Technical aspects of the invention
Technical details about the invention and drawings along with copy of Provisional patent (if filed)
Name, address and nationality of each applicant for the patent.
DSC of Applicant
Dsc of the applicant,
if the applicant does not have DSC, it can be provided by us with an additional charge
Description of the Invention
Detailed description of the invention and details about what the patentee wants to claim out of the invention
MSME or StartUp India Certificate (If any)
These documents are required for procuring subsidized cost