What is a Patent Meaning?

A patent is a right granted to an individual or enterprise by the government which excludes others from making, using, selling, or importing the patented product or process without prior approval.

Patent filing or patent registration is the first step an inventor takes to protect his/her invention from being misused. Patent filing in India is a fairly complicated ordeal, however, with the right legal guidance, it can be done easily. Any business entity or an individual who believes in securing their patent should get a legal consultation from expert patent practitioners such as ours. EveronFintech helps you with the simplest way to file a patent.

A patent can be filed by any individual or business that wants to protect an invention or an idea. An invention can be a new product or a new process.

Benefits of Filing a Patent in India

The following are some of the advantages of filing a patent in India:

  • A patent is a form of encouragement for innovations and inventions. Once an applicant is granted the patent, he or she becomes the exclusive owner of the invention or the idea
  • Filing a patent in India is important for a business as the patent restricts its competitors from copying, selling, or importing its intellectual property without prior permission. This way the patent holder can protect their patent rights in support of the existing laws of the land
  • Patents can be sold and licensed like other forms of property
  • A patent is just like any other intellectual property and can be transferred by the inventor
  • A patented product is likely to improve brand perception and potentially enable your business to charge a premium
  • With exclusive patient rights, the owner of the patent controls the use of the invention for twenty years or longer.

Documents Required for Patent Filing in India

  • Application form in duplicate (Form 1)
  • The provisional or complete specification in duplicate. If the provisional specification is filed, it must be followed by the complete specification within 12 months (Form 2)
  • Drawing in duplicate (if necessary)
  • Abstract of the invention in duplicate
  • Information & undertaking listing the number, filing date, & current status of each foreign patent application (if such exist) in duplicate (Form 3)
  • Priority document (if the priority date is claimed) in convention application, when directed by the Controller
  • Declaration of inventor-ship where the provisional specification is followed by complete specification or in case of convention/PCT national phase application (Form 5)
  • Power of attorney (if filed through any patent agent)
  • Fees (to be paid in cash/by cheque/by demand draft).
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