In this article, we will decrypt a few myths that have been in people’s minds for a very long time. Let’s get started:
MYTH: Ideas Can Be Patented
FACT: Ideas cannot be patented because they cannot show the product/invention’s industrial application. Yes, ideas can be novel and non-obvious, but it is not practically possible to depict an idea’s usage in industrial applications. Therefore, criteria under Section 10 fail to be satisfied, and hence ideas cannot be a patentable subject matter.
MYTH: Patent Is A Globally Enforceable Right
FACT: Patents are territorial. If a patent is filed in India, then the patent’s rights can be exercised in India. Rights do not operate globally.
MYTH: Patent Is Expensive
FACT: This is the most conception that patents are expensive, but no, they are affordable and considerate. The fee structure is affordable, and professional fees can be negotiated for that matter. Also, when we calculate the amount of royalty we might get over the patent is higher than the amount spent on registration.
MYTH: Patent Process Is Lengthy and Tedious
FACT: Not at all; the process is straightforward. It isn’t straightforward, but with professional guidance, it can be quickly done. As far as the time has taken is concerned, well, every good thing takes time. It is not that lengthy as portrayed. Overall it can be done within a year or two.
MYTH: Say No To Compulsory Licensing
FACT: Most of the Patentee might not prefer giving compulsory license to a third party, but it is an excellent option to give a compulsory license. It expands the scope of revenue. This myth is prevalent in the Pharmacy Sector. They are repulsive towards Compulsory Licensing, but this is an excellent option.
MYTH: Extension of Patent Filed In India All Over World Is Possible
FACT: Once a patent is filed in India, it cannot be used globally. The Patentee should file the international application separately. However, it can be used as a base for filing the international application for a patent grant.
MYTH: Patents on existing technology is restricted
FACT: As long as non-obvious, any new technology improvement/ usage is a patentable subject matter. If the new invention is a combination of existing technology, then it can be patented.
MYTH: No Competitors; No Patent Required
FACT: If the invention attracts considerable commercial value, new competitors will tend to use the technology, and if not patented, then the invention will lose its novelty, and in case they use the technology before you patent it, you might lose the exclusive right over it.
MYTH: The Need for Prior Art Is Territorial
FACT: Be it national or international patent application, the need for prior art is a global rule. The invention intended to be patented should be novel across the globe, and there should be no case of prior art or prior publication of the invention.