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The permanent application is an exclusive legal right of an inventor, giving him/her the legal authority to prohibit others from making or using a particular invention. This right vests in the patent for 20 years, after which the invention comes into the public domain so that the invention is open for others to use. The 20-year validity is set for motivating people into inventing more or making additions to their invention. The patent holder has the right to sue anyone who infringes the patent and decides on who to sell, assign, or license the said patent.
Registering a patent gives the patent holders the right to exclude others from using patented inventions without the patentee’s permission. On the other hand, the patent owner can choose whom to give permission to use under agreed terms and hence keeping competitors at bay.
It gives the patent holder the legal right to file a case of infringement if anyone tries to exploit the patent without the owners’ permission. The patentee, his/her assignee, licensee, or agent has the right to institute a civil suit in a court not lower than District Court in a case of infringement.
If an invention is patented, indirectly surge brand recognition and conceivably empower the business to charge a premium price tothe customers. Especially, if a product that has great usefulness in the market would help to expand the valuation of the patentee’s business.
Investing in any business would be followed only after a complete analysis of the business and its financial condition. While approaching investors, you need to make sure that your books of accounts are up-to-date and accurate. Inconsistency may refrain investors to jump into the business.
The patent is a great asset and has the potential to extract way bigger monetary benefits than any other intellectual property if managed intelligently. The owner can license, assign, or sell its patent whenever needed. Many pharmaceutical companies have made great profits through their patented products byways of licensing, assigning, etc.
At Ourstartup India, we offer a range of packages to suit your needs. Start by selecting the appropriate one, fill out the required forms, or simply speak to our experts online for assistance.
Ourstartup India professionals will collect the information about the examination of the invention and required documents about the complete patent application and finalize the type of agreement.
Ourstartup India professionals will draft the documents and Permanent patent application.
Ourstartup India professional will fill online Form-1 and fill the Permanent patent application. Once, the whole process would be complete and the government approval is received, we will acknowledge you with a receipt from the government (patent office) with the application number, the title of the invention, and the date of filing.
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