Patenting is a MUST for innovation; all creative ideas have to be safeguarded. A patent is one of the easiest instruments to protect invention as it grants an exclusive monopoly in return for disclosure. An improvement over current technology, as opposed to a complete invention, is protected by an innovation patent.
They are intended to provide protection for objects, materials, techniques, or procedures that don’t meet the requirements for regular patents in terms of inventiveness. In addition, they are less expensive to submit and are processed far faster than more traditional patents. Because there is no examination required before they are granted, they are often given within a month of the application being filed. Although they are a quick and inexpensive method of safeguarding your intellectual property, they are only good for eight years.
Your innovation must have a “innovative step” in order to proceed with the procedure when filing this type of patent. For an innovation to be considered innovative, it must be new and distinct from existing knowledge. Additionally, the difference must significantly impact how your innovation functions.
Innovation patents give innovators the ability to safeguard their inventions at every step of development and are typically utilised to promote a first-to-market advantage. They can also reduce some of the financial and economic risks associated with the investigation and creation of new inventions.
This may be the type of patent you should apply for your innovation if it has a limited shelf life and might be superseded by newer ideas soon after (usually the case with computer-based products).
Selecting innovation patenting in addition to ordinary patenting has benefits beyond ensuring your product is commercialized before rivals. These are a few more advantages of patenting innovations.
As long as the claims are distinct, an innovation patent may be sought in addition to a regular patent. Without jeopardising the regular patent application, they can be included in and utilised in conjunction with a conventional patent application.
When compared to the thousands of dollars required to submit a standard patent application, innovation patent applications are relatively inexpensive to file and can be approved within a month.
Anything can be filed under an innovation patent, except for living things like plants and animals. They offer the same level of infringement protection as regular patents. Patents for invention cover everything, including tools and processes, that you may file for and that would be covered by a regular patent.
While both standard and innovation patents grant proprietors unrestricted authority to manufacture, distribute, and utilise the invention, there are significant distinctions between the two. Although the distinction between innovation patents and standard patents was alluded to in the introduction, there are numerous additional facets that distinguish the two.
To qualify for standard patent protection, a product, process, or invention must satisfy the following criteria: novelty, utility, and inventive step (i.e., it must not be readily apparent).
As previously mentioned, an invention is covered for eight years under an innovation patent, twenty years under a standard patent, and up to twenty-five years under a pharmaceutical patent.
The invention’s title, up to five claims, a depiction of the invention, and, if relevant, an abstract and forms are required for the submission of an innovation patent application.
The specifications needed for innovation patent application forms are not all that different from those of a normal patent application form. However, on conventional application forms, you can make as many claims as you wish, unlike with innovation patents.
You may resubmit your application for a standard patent for the same invention if, after submitting an application for an innovation patent, you change your mind and determine that that is preferable. Nonetheless, this must be disclosed to the appropriate authorities prior to patent acceptance. You have approximately one month to notify them of the change as a result of the brief acceptance period. The process of transforming a conventional patent into an innovation patent is identical.
In an effort to adapt the administration of patents to the fact that investment rather than individual ingenuity is the predominant source of invention and innovation today, certain legal modifications were required. Unintended consequences of these modifications include the imposition of barriers for smaller firms and those operating in the majority of non-chemical technologies to secure the necessary protection for venture capital investments involving risk. Nonetheless, legal reforms are feasible, such as mandatory arbitration of all disputes.
Dr. Swapnila Roy
Associate Dean( R &D)
Lingaya’s VidyapeethJanuary 31, 2024
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