What is a Patent? PDF Print E-mail

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A Patent is a monopoly or exclusive right granted to an inventor, who has invented a novel and useful article. The rights granted to the inventor include:

 

  • Right to use
  • Right to license
  • Right to sell
  • Right to manufacture

 

The main purpose of Patent is to protect technological advancement and provide incentive to the inventor in return for his disclosure of his novel and useful creation. In India, the provision related to the Patents is protected by The Patents Act, 1970.

 

The grant of Patent gives the right to a company to make, use, sell or manufacture patented product within the territory of the grant. However, a Patentee very specifically and technically can exclude all others in the territory covered by the patent from:

 

  • Manufacturing,
  • Using,
  • Selling,
  • Importing the Patented invention from any other country

However, this does not give the Patentee a right to use the invention, if for instance such use would be illegal

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What do you think?

Which of these Industries in India is least Innovative?

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