As you already know, a patent is a legal right that is granted for an invention, product, or process that provides a new way of doing something or offers a new solution to a problem. Thus, the patent registration is beneficial for businesses and excludes others from making, using, or selling an invention for a limited period of time. Understand the procedure to file a Patent Registration through this article to avail its multiple benefits.
Documents Required for Patent Registration
- FORM 1: – Application of granting patent
- FORM 2: – Specification patent form
- Form 3: – Undertaking Form and Statements of Foreign Application
- Form 5: – Complete applications of invention declaration
- Invention abstract
- Priority documents
- Attorney power
- Other prescribed documents
For detailed document requirement for patent registration, contact our experts:
Procedure to File a Patent Registration
STEP 1 = Patent Searches
Generally, it is considered safe to do patent searches before filing a patent application. If an invention is found to have previously originated,then the originality of that invention can be challenged by the Indian Patent Office.
STEP 2- Filling out the Patent Application
- Application of the PCT national phase
- Application of PCT international
- Convention application
- Divisional application
- Ordinary application
- Application of patent addition
STEP 3 = Patent Application Publication
The application is published in an official journal and is open to the public. This is a chance given to the public to object if they have any.
STEP 5 = Prosecution of the Patent
The patent examiner examines the patent application and issues an examination report. The examination report contains objections raised by the examiner. The request for examination has to be filed within 48 months of the application filing date or the date of the priority pocket.
Major Benefits of Patent Registration
A Good Reputation in The Market
Patent rights enable the inventor to get a noticeable market status and also improve his or her portfolio by uncovering the invention publicly in the market.
Patent rights allow public disclosure that also helps inventors build their portfolios by increasing funds, market value, and business partners. Sharing information related to the invention publicly will reveal the inventor’s specialisation and good command of the technical subject or matter. All these facts benefit the owner by attracting leading and high-end investors, shareholders of the company, business partners, and customers.
The trustworthiness of the inventor will increase after the patent registration is finished.
Privileges for Return on Investment
Sometimes, the inventor finds that his invention does not show good outcomes for him and therefore wants to hand it over to any other worthy or successful person. Once obtained, the patent allows him to earn a good amount of ROI, or returns on his investments, by focusing on the particular invention.
Advantageous in the Longer Run
The sale of the invention will result in various advantages for the inventor. It only helps in getting a royalty of 5%, but it is highly advantageous to inventors who have the idea but don’t have the suitable money to bring the discovery to the market themselves.
Prohibits Usage of Registered Inventions
Registered patents interdict others from using a patentee’s creativity without the patentee’s consent. Also, in cases of infraction, it helps in taking action against the third party.
You can know more about the advantages of patent registration and its process through consulting an expert CA. Now, talk to an expert CA online through:
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