2. PATENT
A patent is the exclusive right to own, use and
dispose of an invention for a specific period.
It is a monopoly right
It is limited area and time (20 Years)
Patent by stopping others (competitors) from making,
using, importing or selling.
3. Needs for Patents
1. To enjoy monopoly of the invention through
exclusive rights
Right to manufacture
Right to sell
Right to import, etc.
2. Inventions should be encouraged for public interest
3. Encourage the disclosure of inventions in preference
to their use in secret
4. Reducing the number of competitors in the market
Confidence for venture capitalists or other investors
Increase the value of the company
Continued monopoly of the patents results in
establishing goodwill
5. Any person whether a citizen of India or not
True and First Inventor of the Invention
His assignee
His Legal Representative
Either Alone or jointly with another person
6. TYPES OF PATENTS
Invention Patent
An invention patent is granted for new and inventive
technical solution for a product, new method of
producing or doing something, or an improvement on
an existing product. Invention patents allow you to
protect the new technology that you develop.
Utility Model Patent
A utility model patent is granted for new and practical
technical solutions relating to the shape and/or structure
of a product.
7. Design Patent
A design patent is granted for new designs relating to the
shape, pattern or their combinations, or the
combination of colour, shape and/or pattern that are
aesthetically pleasing and industrially applicable.
9. Trade mark is a legal term. When a brand is registered
and legalized, it becomes a trade mark. Hence
registered brands are trade marks.
A brand is registered under the Trade Mark Name and
Trade Mark Act
10. Definition
According to American Marketing Association "Brand
or part of brand is that which is given legal
protection because it is capable of exclusive
appropriation”
11. A trade mark is the exclusive property of the seller.
In India, the law relating to trade mark is contained in the
Trade and Merchandise Mark Act 1958, which has
now been replaced by the Trade Mark Act 1999.
12. 12
Trademark rights established by:
◦ First to use the "mark"
◦ First to file application with PTO (Patent and
Trademark Office)
Federal registration not required but has advantages
◦ Registered owner can use mark nationwide
Registration granted for 10 years
◦ renewable for another 10
Certificate of Registration 12 weeks after
publication
