Patent as important as it is

Asked By 10 points N/A Posted on -
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Hi friends! I have a question here. What is really a patent and how does one acquire it? Who will benefit if it is paid? 

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Answered By 0 points N/A #132684

Patent as important as it is

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Actually ‘Patent’ is one kind of intellectual property like trademark or copyright. If any person ‘invents’ any product or process which provides a very new way of doing something or provides any technical solution of a problem, then that person inherits some exclusive rights for that invention (like, a new design of a car can be patented).

This is called ‘Patent’. But there are some certain conditioned to be fulfilled to make an invention patentable.

‘Patent’ actually is considered as a right to exclude others to use, make, sale, copy or import that invention without the permission of the Patentee (He who invents it).

He gets monetary benefits by giving such permissions. The patent actually applies for 20 years from the date of applying for patent. The patentee can sale, mortgage, license, transfer or abandon his patent at any time he wishes like any other property.

A patent can be requested by filing a written application in a prescribed form with proper fees to the relevant patent office. The application may be made by the inventor or its assignee.

The application must contain a description process of making it clearly and the usefulness of it. If patent is accepted then in every there is a renewal fee to be paid for the patent.

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