Advantages And Disadvantages Of Patents
What is a Patent?
The Patent system in India is governed by the Patents Act, 1970 & The Patents Rules 1972.
A patent is a grant by the India patent office that allows the patent owner to maintain a monopoly for a limited period of time on the use and development of an invention.
This right excludes others from making, processing, producing using, selling, and importing the product or process in India without his consent.
For an invention to be patentable it should be technical in nature and should meet the following patentability criteria –
i) Novelty: i.e. some part of it has a new development and has not been published in India or elsewhere before the date of filing of the patent application in India. ii) Inventive Step/Non Obvious: If someone who was skilled in that particular field would consider the invention to be an unexpected or surprising development on the invention date iii) Industrial Applicability: Invention should be useful, such that it can be used in an industry.
Advantages
• stop others from copying your invention without your permission
• protection for a period of 20 years in India
• You can then utilise your invention yourself.
• Get royalty by licensing your patent for others
Key Points
• Patent application should be file before publishing or disclosing the invention to public.
• Patent granted in India provides protection only in India. Therefore a patent owner cannot exercise his rights in a territory outside India
• If an inventor wants
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