What is a Patent?

11 min to read

A patent is a form of intellectual property that provides an inventor complete authority over the invention for a specific time, preventing others from manufacturing, using, or selling it.

Creators are incentivized to share their inventions due to the possibility of earning profits from their contributions to this system.

Pro Tip:
Ensure that everything associated with your invention is documented. A comprehensive inventor’s notebook, containing sketches and experimental outcomes accompanied by dated notes, can be helpful during the patenting process and any legal disputes that may arise in the future.
Key Takeaways:
  • A patent provides legal ownership to an invention, giving the owner exclusive control over how it is utilized
  • Competition within an industry can be influenced through the use of patents to safeguard new developments
  • Brands and creative works are protected by copyrights and trademarks, while patents are awarded for inventions

What are the different types of patents?

There are three distinct primary categories:

  • Utility: Utility patents focus on the protection of the functionality of inventions.

  • Design: Design patents focus on protecting the aesthetic appearance.

  • Plant patents: Plant patents deal with the protection of new varieties of plants.

How long does a patent last?

Different patents have different durations: 

  • Utility: Patents are valid for 20 years starting from the filing date.

  • Design: Patents are valid for 15 years from the day it was granted.

  • Plant patents: They are valid for 20 years from the filed date. 

Inventors must keep these deadlines in mind when developing their commercialization plans.

Pro Tip: 
A patent’s duration starts from when an application is filed, not when the patent is awarded. Stagnance at the patent office can eat into your warranty term so understanding this is important for business strategy.

What is the process for obtaining a patent?

To achieve a patent, you must first prepare a legal document around the invention and evaluate its patentability. If your invention is new and non-obvious, you may draft and submit a patent application to the appropriate patent grant office. The provided patent application will be examined, and if all criteria are met, a patent will be issued, giving the inventor exclusive rights over the invention for a specific time.

Important steps to follow are as outlined below:

  • Documentation and assessment: Detail your invention and see if similar inventions exist.

  • Application: Draft a patent application that includes all pertinent technical details and claims, and submit it.

  • Examination: Your application is reviewed by a patent administrator who may contest your application.

  • Grant or rejection: Patents are granted if the application is approved.  If rejected, you can withdraw or appeal the application. You receive a patent grant if there are no objections and if your application is rejected, you may appeal or withdraw it.

  • Post-grant: The patent holder must pay issuance and maintenance fees to preserve the patent.
Pro Tip: 
Inventors should consider working with a patent attorney or agent to navigate the intricacies of such a procedure as a professional investigation can uncover previously existing inventions that might have been overlooked. Reviewing an invention for patentability before filing can potentially reduce the time spent and cost incurred.

How much does it cost to get a patent?

The expenses associated with a patent include attorney fees, expenses of applying for a patent, and fees for maintenance of the patent. The final cost can be anywhere from a few thousand dollars to tens of thousands of dollars depending on the kind of patent, the complexity of the invention, and the amount of legal help needed. 

Further information can be sourced from a patent attorney or other institutions in your country that deals with Intellectual Property.

Deep Dive:
The expenses associated with a patent can be considerable; ensure your budget is practical right from the beginning. It is not only necessary to consider the initial fees, but subsequently, maintenance expenses and legal costs in the event of a challenge to the patent.

How long does it take to get a patent approved?

The time it takes for a patent to be approved can take a few years due to varying factors. Some of these are the workload of the patent office, as well as the intricacy of the invention itself.

What happens if someone infringes on a patent?

Patent infringement enables the patent owner to take legal action, seeking injunctions and damages. Safeguarding your patent rights is important.

Pro Tip: 
Keeping an eye on the market for possible infringers is essential. If you suspect someone is infringing your patent rights, consulting with a patent attorney as soon as possible is advisable. There are often time-sensitive actions that require you to act quickly and decisively to protect your rights.

Can a patent be challenged or revoked?

Yes, patents can be discredited through processes like reexamination or inter-party review; these processes serve to verify the authenticity of awarded patents.

How do patents differ in different countries?

Patent laws differ between countries. It is preferable to consult local patent attorneys for international filings.

Pro Tip: 
Those seeking patent protection in several nations may want to explore the Patent Cooperation Treaty (PCT), which can simplify the process and potentially reduce expenses.

What is the difference between a patent, a trademark, and a copyright?

Each is meant for a specific function:

  • Patents protect inventions

Pro Tip: 
It is important to comprehend how patents interact with trademarks and copyrights. Intellectual property protection may require all three. As an example, a trademark for the company name and a design patent might both protect the same product.

Conclusion

Patents affect innovation by giving inventors power over the use of their inventions, which in turn can influence the direction of technological progress. Understanding different kinds of patents, applying for them, and dealing with possible obstacles are all parts of the patenting process that inventors need to grasp if they want to safeguard their inventions and monetize their novel ideas. To derive maximum advantage from the patent protection system, careful documentation, diligent planning, and professional legal assistance are necessary.

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