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The Importance of Patent

The Importance of Patent

The Importance of Patents

A Patent right is an important asset for owner because it helps to safeguard inventor’s invention. It provides security for product, design or process that meets certain specification in step with this originality, utility & practically. This exclusive right offers to owner only for his invention in the country and it’s prohibited to sell the product during the patent life.


Patent would be filed for variety of ideas which includes products, processes, or design. It usually defines by this allocation,

  • Idea is new
  • It’s not obvious
  • It has practicable utility


Generally, patent for product, design or process has 20 years validity. After expiry of this limit, others can use this invention without permission until the same has filed for renew.


Inventors have the option regarding disclosure of their invention before filing. They have 1 year period to do so after disclosure. During this period competitor can file the patent.


Powerful market position: Your idea can be greatly differentiate your product, design or process among competitors.

Encouraging image: You will be seen as thought leader, opinion leader or as an initiator of ideas.

Sell ideas: If you don’t have time for to exploit the invention then you can earn further income by selling patent right.

Raise funds: It will help to arrange funds if you have patent which allows to gain market share. Hence investors will take interest to invest in your business.


A Patent owner has proper right to decide that who may or may not use the patented
invention during the validity of protection. In other words patent protection implies that
the invention cannot be commercially made, used or sold by others without the patent’s
owner’s consent.

Patents Importance

The Neusource Startup Mind is the finest business startup consultant that offer various services of registration like Proprietorship Firm Registration, Partnership Firm Registration, LLP Registration, Company registration, GST Registration, Copyright Registration, ISO Registration Trademark registration, and other FSSAI License, etc. 

09 Mar

Neha Sahni
Neha Sahni

All pieces that originate from the Team are important to present the organization and to reach at new statures. Neusource is one of an Endeavor in current field.

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