• CRSPL

  • 26 Mar 2024

  • 40
  • 3 mins

Advantages of Patent in India 2024- Process, Documents & More

What are the advantages of patent? And why is it so important? There are lots of questions that might be going on in your mind. Do not worry CRSPL will answer your all the queries. First we need to identify what is patent and why it should be done. It is pretty vital to protect inventions that is invented by individual. It takes plenty of efforts to invent something new and unique. 

Therefore it has to be protected by illegal use with your concern. CRSPL must help you to protect your invention and assist with its top-class services whether it is related to patents, compliances or licenses. Let's explore each and everything in the blog about the advantages of filing patent.

Why Should You File Patent?

Initially, we need to how to protect your invention, your innovation is a solution to a specific problem. Inventions can be protected through licenses and patents. Patents protect the interest, ideas and tools of the inventors, and it gives the authority to only inventors, ones can only use the invention or control the utilization of it. 

If the individual or organization holds a patent right or patented invention then others can not manufacture, retail, sale or deal in the patented item. A patent is a kind of legal protection from illegitimate use of product and process, moreover patent also creates an opportunity for creators and inventors to grow finally their businesses. Hence filing a patent is pretty important step for a business owner or person.

Eligibility for Filing Patent or patent Criteria

To meet the eligibility before you file patent is pretty important, and the patent criteria can vary from country to country such as in India and other countries, criteria conditions can vary. But the basic thing is that your innovation should be new, helpful, innovative, and valuable related to the matter. Let's also have a look at international patent criteria.

Creators should be aware of patent because it is the legal right of a person that was generated or created by the government. In case you are looking for patent right in other countries then CRSPL would recommend you to look for patent insurance to secure their further innovations. WIPO’s Patent Cooperation Treaty (PCT) provides patent insurance in about 152 nations that too at a cost-effective price.

Also Read:- Trademark Registration 2024 :- Process, Ducments, and Fees

Advantages of Patent 

There are multiple advantages of filing a patent, therefore why you should file it ASAP after your invention, as it was mentioned in the patent criteria. Let’s have a brief about all the benefits.

  • After you file a patent then you get legal rights over the specific patented product, process, or service for a specific time of ten years.
  • A creator can also make a capital of Indian Patent right through which inventors can get funds from the government to start a business.
  • Another advantage of a patent is you let the selected individual and organization use your patent right as a rent.
  • The main advantage is security, no other person or entity is permitted to use the specific product and service that is patented without the creator's concern.
  • Inventors can also have the right to sell their inventions to other organizations.

There are also other benefits of the patent to the patent holder and society. Let’s have a look at:-

  • Patent assists creators to work with dedication because they know their time, resources, and efforts are secure, none other can use it without their concern after the patent. New innovations are also fruitful for society because it serves the nations. Patents give creators hope that they can develop themselves or grow financially in life.
  • Every new innovation contributes in the betterment and development of society, eventually, it is considered to be vital for the nation economically. Somewhere or other new inventions open new doors of opportunity which were closed earlier. 
  • Patent transforms the creativity of creators into the motivations that encourage him or her to develop a business and start a tradable business. It also encourages for more innovations for the betterment of society.
  • No third party has the right to utilize the patented things, or else you can sue against them and take action legally.

Conclusion

Experts of CRSPL would say that you must file a patent because it plays a vital role in securing your invention. You get exclusive legal rights over your invention, revenue source, commercial advantages, and more. Do not miss to patent your creation and contact us ASAP to get all these benefits. Our team of experts will assist you to get approval for your patent as soon as possible. For more such informative and helpful updates, stay connected with us.