A patent protects your concept from being commercialized by others. How do you obtain a patent? Are provisional patents available? What are the benefits of submitting a provisional patent specification? Discover them here!
The concept of patents is familiar to investors and inventors seeking to protect their first ideas and inventions. But what does a patent entail? What are the requirements? Is there anything else available that does the same thing? Below are some reasons why you should file a provisional patent.
Provisional patents, which operate as temporary utility patents, allow users to protect their interests. It’s easier to get them approved, and they’re cheaper and faster than conventional ones. What are the benefits of provisional patents?
Patents: What Are the Different Types?
Section 9 of the Indian Patents Act, 1970 permits the filing of two types of patents. There are two types of patents:
- An Application For A Provisional Patent
- Completed Or Non-Provisional Patent Applications
Provisional Application for Patent – What Is It?
Inventors can file provisional patent applications prior to filing a complete patent application. Initially, provisional patent applications are preferred because they involve fewer formalities.
Inventors need only provide a broad description of their invention in order to receive approval for a provisional patent application. In addition to serving its purpose before the full patent application is filed, this document aids the inventor in promoting the product, finding inventors, and continuing to develop the product. It does not have all the advantages and benefits of a complete patent, but it does have some of them. A provisional patent can be filed for a number of reasons.
Provisional Patent Specifications: Why You Should File One?
- Provisional patents cannot be filed on similar-sounding or similar-looking inventions. Thus, any copycats of your invention will not have priority over your provisional patent design.
- In the event of a dispute over ownership of an idea or invention, the Patent Office will favor the design of the provisional patent holder.
- Generally, a provisional patent costs less than a complete patent. In the first few weeks following the invention, registering a patent is much more affordable and cost-effective.
- Additionally, it requires far fewer legal documents than a full patent application. This means that it takes less time, legal advice, and effort to file. Additionally, it is targeted primarily at young inventors and entrepreneurs with limited resources.
- Inventors and entrepreneurs can file provisional patent applications because they don’t require a lot of resources.
- With a provisional patent, inventors do not have to worry about infringement. One year is the validity period of a provisional patent, so the inventor has an entire year to find investors and improve the product.
- Research the impact, analyze the market potential, and determine the product’s commercial viability during the 12 months following filing. It is also possible to use this time to find suitable vendors and manufacturers for the product and to market it commercially.
- As soon as the provisional patent application is filed, the patent owner can use the ‘Patent Pending’ tag. Assets can be protected from being copied and exploited by using tags.
- The label ‘Patent Pending’ adds credibility to the product, improving its commercial viability and marketability.
- If market research indicates that the product is not viable, a company may choose to abandon the patent and not file a full patent. A provisional permit reduces the risk of abandonment for inventors.
- All data regarding the invention can be kept confidential since the provisional patent application does not require publication.
When Filing A Provisional Patent, What Should You Know?
- An invention’s scope is defined by the provisional patent, which is an official document that is based on the provisional patent.
- The Patent Office will give preference to the provisional patent holder’s product if someone files a patent for a similar product.
- Provisional patents are the first step toward registering a complete patent.
- Within 12 months of the filing of the provisional patent, a complete patent registration must be filed or the patent is deemed abandoned.
- When filing a provisional patent, confidentiality should be maintained. However, full disclosure must be made when presenting a complete patent.
- In order to conceptualize and visualize a future design, it is crucial to define the ground rules for a provisional patent.
- If you are in the research and development stage, a provisional patent will allow you to continue developing the product while searching for investors.
- Once you have filed a provisional patent, you can spend some time prototyping and conducting experiments. In this way, you can quantify and validate your entire patent application.
- It is important to note that users can opt not to file a provisional patent if they believe it is not necessary.