Permanent Patent
What is Permanent Patent Application?
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.
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.
Increases your credibility in the market
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.
Monetary Returns
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
- Applicant’s Information: Name, address, contact details and nationality of each applicant for the patent.
- Description of the Invention
- Technical aspects of the invention
- DSC of Applicant
- MSME or StartUp India Certificate (If any)
What is not Patentable in India?
- Anything that’s is a mere discovery, and does not have any inventive step
- Anything that’s frivolous, obvious, contrary to law, injurious to public health and inventions relating to atomic energy
- A mere arrangement or rearrangement or duplication of known devices, and anything that does not have any utility
- A method of agriculture or horticulture