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A patent is a right granted to an inventor by the federal government that permits the inventor to exclude others from making, selling or using the invention for a period of time. The patent system is designed to encourage inventions that are unique and useful to society. Congress was given the power to grant patents in the Constitution, and federal statutes and rules govern patents.
As mentioned earlier, patents provide exclusive rights which allow the inventor to exclude others from using the invention. Particularly for 20 years from the date of filing the patent application.
The established quality of your product and services are known by everyone through the trademark and which establishes trust and goodwill among the customers in market. It helps in creating permanent customers who are loyal and always opt for the same brand.
Having invested a considerable amount of time and money in developing the invention, under the umbrella of exclusive rights, the inventor could bring in the invention to the commercial market and thus obtain higher returns on the investment. Of course, this depends on the economic utility of the patent.
Business partners, investors and shareholders may perceive the patent portfolios as a demonstration. Particularly the high level of expertise that is provided by the subject matter experts. This acts as a spectacle of the organization’s capability. Further, this may prove useful for raising funds, finding business partners.
Patent application in Form-1.
Proof of right to file application from the inventor. The proof of cight can either be an endorsement at the end of the application or a separate agreement attached with the patent application.
Provisional specifications, if complete specifications are not available.
Complete specification in Form-2 within 12 months of filing of provisional specification.
Statement and undertaking under Section 8 in Form- 3, if applicable. Form 3 can be filed along with the application or within 6 months from the date of application.
Declaration as to inventorship in Form 5 for applications with complete specification or a convention application or a PCT application designating India. Form-5 or Declaration as to inventorship can be filed within one month from the date of filing of application, if a request is made to the Controller in Form-4.
Power of authority in Form-26, if patent application is being filed by a Patent Agent. In case a general power of authority, then a self attested copy of the same can be filed by the Patent Agent or Patent Attorney.
Priority document must be filed in the following cases:
Convention Application (under Paris Convention).
PCT National Phase Application wherein requirements of Rule 17.1(a or b) of hasnot been fulfilled.
Note: Priority document must be filed along with the application or before the expiry of eighteen months from the date of priority, to enable early publication of the application.
If the Application pertains to a biological material obtained from India, the applicant is required to submit the permission from the National Biodiversity Authority any time before the grant of the patent. However, it is sufficient if the permission from the National Biodiversity Authority is submitted before the grant of the patent.
The Application form should also indicate clearly the source of geographical origin of any biological material used in the specification.
All patent applications must bear the signature of the applicant or authorized person or Patent Attorney along with name and date.
Provisional or complete specification must be signed by the agent/applicant with date on the last page of the specification. The drawing sheets attached should also contain the signature of an applicant or his agent in the right hand bottom corner.