Are you interested in patenting your start-up idea? Have you decided to protect your idea for commercial purposes? Let’s explore the dos and don'ts of protecting the intellectual property of patents.
To begin, you must understand what a patent is. In India, a patent is a legal licence granted by the Indian Patent Office which is an agency under the Department for Promotion of Industry and Internal Trade that gives an inventor ownership rights to his or her invention for 20 years and allows the inventor to manufacture, offer for sale, and even sell the patented idea or item in the country. Patent your start-up idea now!
Can We Get a Patent for Just an Idea?
No, but a patent can be obtained for an invention derived from an idea. Furthermore, the invention must include a description of the invention and be attached to the patent application.
Who Can Apply for a Patent?
To obtain the patent successfully one must be either:
- The inventor of an idea
- A legal representative or executor of the inventor
- Further, the co-inventor
- The person to whom invention has been transferred
Patent for Start-up Idea – Needs and Benefits
A patent is required for new start-ups to protect themselves. This is because intellectual property protection is one of those unskippable and necessary business requirements. Besides that, a patent grants an exclusive authority over the invention, protecting it from exploitation. A patent idea should be one-of-a-kind. Furthermore, a patent granted in India is valid for 20 years and involves a territorial right that is unique to India’s territory.
Start-ups in India have numerous benefits provided by the Government of India when it comes to patents, such as:
- Legal Support and fast-track patent examination at subsidized costs
- Various incentives and schemes for facilitating a start-up’s intellectual property protection
- Further, intellectual property facilitators for filing patents in India
- Schemes to ensure start-ups are provided with a high-quality service and knowledge base.
The benefits are available to eligible start-ups only after procuring a certificate from the Start-up Certification Board.
To Acquire These Benefits Start-ups Need to Have:
- Certification from Start-up Certification Board for holding innovative research with a legal firm registered or incorporated or registered in India not older than five years.
- Moreover, the start-up’s annual turnover should not exceed ₹25 crores in any of the preceding financial years.
A Quick View of the Procedure to File a Patent for Your Start-Up Idea
- Check if your start-up idea is eligible for the patent
- Likewise, formulate a detailed patent application
- Thereafter proceed with filing the patent application and keep the prototype of your idea, ready to go
- Submit the patent application
- Further, undergo patent application examination and reply to all objections
- If all the above-mentioned steps have been completed you will be granted your patent
- Renew your patent by paying the annual fee.
Documents Required for Patent Application for Start-Up Idea
- Title of the invention/start-up
- Description of the invention/start-up
- Identification documents of the inventor like voter Id card, passport, or driving license.
Why Look for Professional Help?
We recommend that you seek professional assistance to file a patent for your startup. A professional can ensure that your patent is ready for submission. In fact, if you are eager to protect a million-dollar idea and obtain exclusive rights to your idea or invention it is absolutely pertinent that you engage the services of experts.
Furthermore, a professional always investigate even the most minute details of the application and assists you in ensuring that you obtain a monopoly in the market for that specific invention.
Moreover, filing for a patent is a layer-by-layer process that will easily unfold if you have the assistance of professionals. Engaging the experts from Vakilsearch will save the inventor a lot of time and effort while also speeding up the process.
While you can maintain the sanctity of an idea or an invention without filing a patent, the legal aspect of this should be considered because it will allow others to copy and misuse the innovation by making a few changes to overcome your legal sanctions. Furthermore, an expert can assist you in understanding the details required to be included in your patents such as drawings, illustrations, explanations, special materials used, and expertise that cannot be easily replicated.
Finally, it must be reiterated that it is in your best interest to patent your start-up concept. Patenting your idea or invention protects you because your competitors will be barred from profiting from the invention you created with your own sweat and blood.
Note: Kindly do not disclose your invention/idea in public before filing a patent application.