A patent is an exclusive legal right of any inventor that grants him the legal authority to prohibit others from making or using a particular invention. Provisional patent registration is the first step towards filing a patent. A provisional application is a brief synopsis disclosing the essence of the nature of the invention. It is the preliminary application that can be filed before filing the complete specification. It explains the patent in brief but not completely. Filing a provisional patent is very useful for inventors as it locks the priority date and secures the invention so that no one else can copy it or claim authority over it.
Benefits of filing provisional patent application
Establishes Priority Rights
Filing a provisional patent enables the applicant to secure a priority date for his patent and thus refraining any other individual from copying or filing such a similar patent.
Gauge the Worth of Invention
Filing a provisional application is simpler and affordable step for initial patent protection. The inventor gets 12 months before filing the complete specification which is referred as permanent patent in the common parlance . This period gives the applicant enough time to contemplate on whether invention has enough potential to be patented and gauge its feasibility .Changing the decision within these 12 months does not attract any charges/penalties and the applicant can cautiously decide if the investment is worth it.
Buys Time to make required changes
A provisional patent gives the inventor time to work on the invention and brush up on its utility, novelty and the inventive factor till it is finalized as per the established standards. A period of 12 months is given to file the final patent draft called as a complete specification.
The patent is a great asset and has a potential to extract way bigger monetary benefits than any other intellectual property, if managed intelligently. Many pharmaceutical companies have made great profits through their patented chemical formulas by ways of licensing, assigning, etc.
Documents required for conducting Patent Search online
Title of the invention
Name, address and nationality of each applicant for the patent.
Description of the Invention
Detailed description of the invention and details about what the patentee wants to claim out of the invention
Technical aspects of the invention
Technical details about the invention and drawings