The term “Intellectual property (IP) is defined as the property resulting from creation of the human mind, the intellect. In this regard, it is fair that the person making efforts for an intellectual creation has some benefit as a result of this endeavor .Probably, the most important among intellectual property is “Patent”
Patent is one of the oldest forms of intellectual property protection. The aim of the patent system is to encourage economic and technological development and rewarding intellectual creativity.
Benefits of patent protection
Patent protects new inventions. it stop others, or gives the owner the right to prevent others, from copying, making, using, importing or selling the invention without permission of the patent holder. A patent allows the inventor or patent holder to exploit the invention and gain commercial benefit.
What if an inventor does not patent his invention?
In order to get a patent, first you have to identify an invention .If you are an Inventor-entrepreneur than it may be easier for one’s to identify an invention. If an inventor does not patent his invention, anyone can use, make or sell his invention without his permission. If someone has an invention, for example a new product or process, he or she may be able to protect it by filing a patent application.
A Patent application will be grant if:
- It must be a new
- It must involve an inventive step
- It must be a result of idea from the first who think
- It must be not an existing things
- It must be capable of an industrial or business or any other part of bussines.