How do you Patent a Business Idea for a Successful Business Venture?
An IDEA IS CONCEIVED by the genius mind to solve existing problem. The word “invention” is termed to the idea conceived at the ideation stage when the inventor is able to solve existing problem in the market. Problem can be personal or can be applicable to the large masses.
When a business entity like Fortune 100 company is able to resolve existing technology in the same domain the problem is UNIVERSAL and applicability is worldwide.
When the invention is applicable worldwide it is advisable by the expert patent attorney to file international patent before WIPO, Geneva under the PCT patent route. We as innovators and inventors are programmed to understand different patterns existing around us. CHANGE is EVERYWHERE and inevitable truth of LIFE. As an inventor or a startup we should realise the importance of protecting innovative ideas.
DO YOU have a GREAT IDEA for a SUCCESSFUL Business Venture?
So, if the ANSWER is YES…YOU have already taken the first step to protect your idea for a successful business !!
Now you must be wondering what if someone else comes up with something similar. BEST SOLUTION to such thoughts is to Patent a Business Idea.
Patent a Business Idea in India * Patent a Business Idea in USPTO
Technically, you can’t patent an idea for a business. For example, if you have a unique idea for an online store or a new chain of themed restaurants. However, you may be able to protect and patent a method of doing business and solving a problem– if it meets very specific patent criteria and patent requirements.
Ideas are valuable and throughout history innovative ideas have been copied or stolen by the third parties.
Instead of letting other business entity go away with your great INNOVATIVE IDEA and make a fortune $$$$$$, you as an inventor or innovator should protect your idea by filing a patent.
Patent a Business Idea
Technically ideas themselves cannot be patented. When you take an idea and with intangible force turn the idea into an invention or process (PROTOTYPE is ready) that meets specific patent criteria and patent requirements. Irrespective whether the idea is small or big, the innovation can be protected by filing patents which is a form of intellectual property right. YES, IDEAS can be patented with the right intent and content will be prepared by our THINKING GEEKS at TCIS, India.
A patent can help you remain competitive in your for 20 years field and give you an edge on your business rivals.
According to YOUR invention / idea YOU can apply for a Utility patent or an Industrial Design patent
Utility patents in USPTO are granted to inventions that pertains to a new and useful process or useful improvements of a process, machine, article of manufacture or composition of matter.
Design patents are given for new and original designs for an article of manufacture. Under industrial design protection the ornamental looks of the article can be protected. The timeline for registration in India is nine months from the date of the industrial design filing in India.
FOR A SUCCESSFUL STARTUP BUSINESS VENTURE HAVE A PROPER INTELLECTUAL PROPERTY STRATEGY IN PLACE: Patent a Business Idea
AS an inventor, you can file a provisional patent application or a non-provisional patent application before the patent office in home country. As an innovator you can write provisional patent and file provisional patent application in a quick way to protect your invention if it is in the abstract / prototype stage.
The provisional patent application will establish an early patent filing date. But a patent will be issued only after a non-provisional application is filed for the same within an year of filing a provisional application with a complete set of patent claims.
UNIVERSAL INTELLECTUAL PATENT STRATEGY
” YOUR invention “SHOULD ” be Novel, Non-Obvious and should have industrial technology application”
If your idea with proper elements fulfils all the patent requirements to apply for a patent, and there are no other previously filed patents claiming the same elements in the patent claims, then it’s time to apply for patent before the patent office.
Patent writing and patent filing work is intellectual in nature. Hire and select your patent attorney wisely. From a strategic business point it is advisable to seek legal counsel and patent advice before filing a patent and get patent professional involved for writing patent claims and file patent before the patent office.
Indian Patent filing & International Patent filing involves the following patenting steps:
Action Plan Strategy Step 1: Pen down your invention with as much detail as possible including drawings/ diagrams that explain the working or concept of invention.
- Action Plan Strategy Step 2: Next step is to find out if the invention meets all the patentability step criteria for the country in which the patent application has to be filed.
- Action Plan Strategy Step 3: Writing patent and drafting the provisional patent / non-provisional patent application with patents depending on the stage of your invention. If you are at the stage where you have complete information about your invention then you can directly go for complete specification.
- Action Plan Strategy Step 4: Up on patent filing the complete patent specification along with application for patent, the patent application is published after 18 months of first patent filing date.
- Action Plan Strategy Step 5: A patent request for examination is filed after which the patent application is examined by a patent examiner and the examiner issues a first examination report to the patent lawyer representing the patent client.
- Action Plan Strategy Step 6: The inventor and patent professional create and send a response to the examination in order to clear all the objections of the patent examiner.
- Action Plan Strategy Step 7: After all the patent objections are explained and the patent examiner is of the view that the patent can be granted for the invention a formal letter is issued to the patent inventor. The patent is granted by the patent office and is published in the patent journal.
About Indian Patent Attorney
Prity Khastgir is a techno-savvy patent attorney in India with 12 yrs of experience working with clients across the globe. Her areas of expertise are IP portfolio research, cross-border technology transactions, licensing agreements, product clearance, freedom-to-operate, patent infringement & invalidity analysis, research & opinions. Currently, she helps startups to raise funds, assists foreign companies to find right business partners in India. She also assists enterprises to enter and find the right angels, and VCs in Malaysia, Singapore, US, UK, Japan and India.
If you have any questions related to how to Patent a business Idea in India, Malaysia, and Singapore ? Drop us a mail and we would be glad to meet YOU in person to strategise YOUR business plan and generate Intellectual property asset from current business.