About Speaker –
Archana Joshi is Assistant Manager at Intellectual Property Facilitation Center (IPFACE), Venture Center. IPFACE is a project of Venture center,funded by MSME(govt. of India) and NCL.IPFACE provides services regarding trademark,patent filing,drafting,GI filing,patentability assesment etc. IPFACE also conduct Awareness talks at various institutions and organize workshops in IPR.
She has done M.Sc. in Organic Chemistry and PG Diploma in Patents Law from NALSAR and also, she is registered Patent Agent.
On 08th July 2017, under the Start-up 101 Lecture Series for Entrepreneurs, Archana Joshi offered a talk on ‘Patents and Patent Filling Procedures’. She started her lecture with explaining basic terminology used in patents and patent filling.
What is Patent?
It is one of the type of Intellectual Properties (IP). Patent is exclusive right to protect your technology which is granted by Government. It’s a territorial exclusive right to inventor or their assignees which is assigned for limited period of time (20 years, from date of first filling date).
Now, question comes in why and when to file patent. Patents can fetch good amount of money, goodwill, you can gain recognition and can restrict other person from infringement. She gave some examples like – Hitachi earned $455 million in patent royalties in 1996. It paid approximately $91 in patent licensing fees on the technologies it got from others. Thus, it made a profit of $364 million in 1996 in its patent trade and patents made a significant contribution to the company’s bottom line.
When to file Patent?
Before disclosing your innovation to anybody anywhere. For example – Before submitting PhD thesis or before displaying in exhibition.
Novelty is the primary criteria to get any patent. Further, she explained the check list of Patentability-
- Is your innovation novel?
- Check if you have clearly added value to an existing product
- Who will benefit from your invention
- Search for similar ideas in patent databases
- Search for existing technology (Websites – Alibaba.com and Indiamart.com)
- Expected profits
- Search for potential licenses and investors
Once you file patent it takes some time to get patented. Below are the timelines –
About the Author: Pramod Bhurji, BIRAC Social Innovator at Venture Center, Pune