Intellectual Property Rights- Innovations and Patents

Posted by DPS Blog on 22 August 2018


“A patent is the grant of a property right by a sovereign authority to an inventor”

A patent is an exclusive right granted for an invention, which is a product or a process that provides a new way of doing something / offers a new technical solution to a problem. To get a patent, technical information about the invention must be disclosed to the public in a patent application. A patent gives you a legal right to stop others from making, using, or selling something you have invented for up to 20 years.
(Example) How to legally protect your Invention?

Father: Kids, I have invented revolutionary oil which will make India less dependent on imported oil.
Kids: Wow, Dad that’s great. So what will you do now Dad?
Father: You know I would like to protect this invention so that no one else can copy it without my knowledge. That is through a Patent. See I have already got a lot of patents for my other works. It can be for a product or a process and should be novel, inventive and industrially applicable. Patent is an exclusive monopoly right granted by the government to an inventor for 20 years for the invention.
Uncle: A well – known company wants to license your innovative oil and they are offering 60 lakhs for it. Are you interested?
Father: Yes Of course, but first let’s file for a patent application.
Kids: Wow, this is good.
Uncle: Hope the Patent Applications have been filed?
Father: Yes, I have filed the Patent Applications. I am so happy, that my Inventions are legally protected.
Uncle: Congratulations! You have made India Proud.

If you have an Invention that you would like to have legally protected, it’s a good idea to get acquainted with Intellectual Property Law in general. With a Patent, you can license to other companies or go into business yourself; but failure to properly register your patent can end your dreams. Hence the more you invent, make sure they are also patented.