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Advantages of Patent Registration in India

Advantages of Patent Registration in India

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In India, the patent is basically granted to encourage the great and unique inventions. The inventor is always recommended to get his invention patented so as to enjoy the exclusive rights over his invention. The patent is an intellectual property right that acts as the biggest asset of the inventor which can be sold, bought, licensed or mortgaged. In India, the tenure of a patent is 20 years from the date of filing. Post this period, the patent is open for anyone to be used.

One crucial thing to be noted, about the patent, is that they are granted for a particular territory only. Thus an Indian patent will only give the owner rights within India and rights to stop others from importing products into Indian Territory. We have listed some major advantages of Patent below-

  1. The inventor can reap the benefits of his invention with the patent by preventing others from copying, manufacturing, selling or importing the invention without his permission.
  2. With the patent, the inventor can build his business by using his unique invention.
  3. The patent is granted for the total time period of 20 years by which the inventor can protect his invention from being exploited by any third person for a long period.
  4. The inventor can also get some additional benefits by licensing his invention to empower others to use his invention. To make huge benefits Patent rights can be licensed to other companies to receive royalty payments. One more benefit of licensing the patent is that he is still the owner of the invention.
  5. Like every other asset, the patent can also be sold completely to a company for a significant amount of royalty.
  6. Patents give valuable guidance for planning research and development, planning strategic protection for IP assets and creating strategic union etc.
  7. Patents also help to identify the potential competitors.
  8. The patent also promotes the knowledge sharing and resources by making the patented invention available in the public domain. However, the invention can be made available in the public domain only by seeking the permission from the inventor.

Thus every inventor must check for the conditions that are required to be fulfilled for getting the invention patented and make an application for getting his invention patented.

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