The patentee is the only person who can manufacture the product for 20 years after the patent is granted. After 20 years, the invention becomes public and is available to everyone. Patents are also referred to as negative rights. There are several patents for different inventions owned by various companies. All legal processes are handled by a separate department. Taking a look at how patents are filed in big companies will help us understand how they work.
The recent NASSCOM report found that 70% of patents were filed by multinational companies, while 7% were filed by startups. Over 80% of patents are filed in the healthcare and automobile industries. In the sectors of healthcare, disaster prevention, public safety, and manufacturing & supply chain, the Internet of Things (IoT) is driving patent growth in India.
The number of patents filed by big companies
You may know how companies obtain a large number of patents on their own. Employees are usually encouraged to present their own ideas. They then develop the concept. With IBM, Indian inventors have been granted more than 900 patents.
It may be possible for the inventor to receive remuneration for submitting the invention itself, depending on corporate policy. Upon meeting all of the conditions and filing a patent application, they are rewarded. In the same way, some businesses pay after they receive the patent. If a product receives a patent award, companies may consider paying royalties. Inventors are generally compensated under patent law, though not all countries do.
INVEST IN INDIA BY FILING A PATENT
How to file a patent
In 1970, the Patents Act defined the scope of patentability clearly. The patent office awards a patent after the proper disclosure has been made. As outlined in the Patents Act, there are several steps involved in filing a patent.
Step 1: Check to see if an invention is patentable
An in-depth patentability search is conducted as part of the patent registration process.
Step 2: Prepare a patent application
Inventions that are new and original can be filed for patents. A complete patent can be applied for within 12 months of an innovation that is still in testing. Based on the stage of innovation, provisional or complete patent applications can be filed.
Patent applications must be prepared according to different clauses. In addition, you must describe how you intend to license your invention, how you will profit from it, etc.
Step 3: Submitting a patent application
When filing for a patent with the Indian Patent Office, the following forms are required:
- Patent grant application – Form 1
- Provisional or complete specification depending on the stage of invention – Form 2
- Form 3 – Undertaking for foreign applications
- Form 5 – Declaration for the complete invention application
- A start-up patent application must be on Form 28.
Step 4: The application is published
Indian Patent Office automates this process. Further, the patent application will be published in an official patent journal after documentation, which takes about 18 months. An investor can submit Form 9 if they wish to publish the patent application before 18 months have passed.
Step 5: Examining the application for a patent
An examination of a patent application thoroughly examines its merits as claimed and described in the patent specification. The inventor must also submit Form 18 to begin the process. In order to expedite this process, there is a Form 18 (A).
Step 6: Patents are granted
Lastly, the examiner grants the patent and publishes it in the official patent gazette. However, only if no objections are raised in the patent application.
Patentable and non-patentable inventions
Patents Act, 1970, Section (3), Subsection (1), includes inventions covered under the Act. Atomic Energy Act, 1962, section 20 is not patentable. Inventions that are patentable and those that are not are updated periodically by the central government.