A patent is a form of intellectual property that protects the ownership rights of a product or an invention. After the R&D process ends and a researcher develops a new product, it is crucial to fill a patent application. Patenting is important both financially and intellectually.
Why Is Patenting Important For A Researcher?
A patent can protect any product and design that meets certain criteria. According to the World Intellectual Property Organization, “one of the rationales for patents is that they stimulate economic and technological development and promote competition by creating a financial motivation for invention”1. Furthermore, patents prevent other competitors and individuals from copying your invention. Thus, if you decide to enter the market with your invention, a patent will protect your business. If the inventor will not file a patent application properly, there is a risk for the inventor. In such a case, since another competitor can file a patent application for a similar product, the inventor’s company may lose the right to compete. Hence, patenting is a very crucial process for an inventor with a new product or a design.
Before filing a patent application, the inventor must consider a few questions: Do you need a patent for commercial purposes? What is the total cost of patenting your product? Is your product or design ready for patenting? After considering these questions, according to the European Patent Office (EPO), the inventor should study the application procedure in detail, apply strategically, and work with an expert or an attorney2. Since the risk of making a mistake is very high during the patenting process, an expert can help you to patent your product without facing any problems. Furthermore, different countries have different patenting procedures. Thus, an expert can guide you through the process.
Criteria For A Product To Be Patentable
It is important to note that EPO designates 3 criteria for an invention to be patentable. First of all, the invention must be new and previously undisclosed. It should be distinguished by an inventive step not obvious to someone expert in that technology. Finally, the invention must be capable of industrial application2.
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