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Patents

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Patents

A patent gives an inventor the right for a limited period to stop others from making, using or selling an invention without the permission of the inventor. For the disclosure of his invention, the inventor is given a short-term monopoly in the use of it for the period of 20 years, after which it passes into the public domain.

The basic purpose of the patent system is to encourage innovation and the improvement of industrial techniques. Patents are generally intended to cover products or processes that possess or contain new functional or technical aspects.
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Patentability
Search

A Patent is a right which can only be obtained for any particular invention. As per TRIPS Agreement Patents are obtainable for inventions, whether product or processes in every single field of technology notwithstanding of any discrimination, subject to the normal tests of novelty, inventiveness and industrial applicability .
Introduction

Patents are the rights related to new inventions. New Invention means any technology or invention, which has not remained predicted by publication in any document or used in the country or somewhere else in the world before the date of filing of a patent application with broad stipulations i.e., subject matter has not dropped in the public sphere or that it does not form part of the state of the art. Thus, a patentability search is also known as novelty search or prior art search which means a type search done to reveal any references whatever which divulge the same or an alike invention to be patented. A patentable search allows the searcher to find out whether it has been discovered openly and publicly by somebody else prior to the invention’s perilous date.

Importance Of Prior Art Search

A prior search aids to discover out prior art materials available from municipal resources. Prior art search helps to find out vale of probable reserves. This may condense inclusive costs by saving time, as latent upcoming hurdles may be evaded. This may also help to specify where research and growth investments should be prearranged if an unmapped arena is discovered. It allows the patent examiner to remark on the novelty and resourcefulness of the patent application. This may also indicate that a patent is lawful, or that it was erroneously approved and should be cancelled or could be hoarded by modification. A state-of-the-art search directs what art exists, and provides opportunity to develop around it.

How is a prior art search done?
  • Search for defining the notions of the principal of the creation.
  • Categorize the vital structures of the invention.
  • Think of dissimilar personifications of the invention, other than those designated therein.
  • Keyword Hunts i.e., words used to label the invention example “solar cooker”.
  • Amend the variations or increase keywords if pertinent results are not found i.e., solar energy cooker or solar oven.
  • Take a note of words that are used inversely in different countries, predominantly US and Europe.
  • Take a note of substitutes that may be used, e.g., mobile device, cell phone, mobile phone, communication device etc.
  • Use wildcards.
  • Be cautious of penetrating for specific form of words, e.g., generate, generating and generated may all deliver unlike consequences.
  • Take care of the wildcard characters of your exploration podium.
  • Search in precise sorts which may remove significantly immaterial results.
  • When an applicable prior art file has been acknowledged, look at the prior art file that was mentioned in contradiction of it during its examination, and at patent application which has been cited, this may provide a noteworthy number of prior art credentials that may be equally or more relevant.
  • Make a note that an entire patent requirement is important for patentability searches, not only the claims.
  • The whole thing that is published is a Prior Art.
  • You can search for a specific inventor or a specific applicant.

The biggest question which will pop up in the mind of an inventor is “Where to search?” The answer to this question is national or international databases. Google patents (www.google.com/patents) is a good place to start the search. Intelligent search algorithm provides relevant results. Another valuable websites are: –

Espacenet(www.espacenet.com)

WIPO (patentscope.wipo.int/search/en/search.jsf)

USPTO (patft.uspto.gov/netahtml/PTO/search-bool.html).

Conclusion

Thus, a patentability search is a tool to identify the level of novelty of any particular invention. While probing keeps the track record of your search strategy. Store your strategy for later references if further searching is necessary. Do report your hunt strategy to your client as part of your outcomes if relevant. If they can find out an unused explored term or keyword from your approach, they can ask you to execute additional searches. As many searches may produce the obligatory results, it may help your customer to appreciate the stretch paid on the search.

Freedom To
Operate Search

FTO or freedom to operate as the name suggests refers to the degree of freedom with which a business can operate in a particular segment/territory, without infringing the intellectual property rights of other businesses. FTO searches are done by the businesses at an early stage of planning when launching a new product to ensure that commercialization, marketing and sale of their product, service or process doesn't infringe upon valid and enforceable IP rights of others.
Introduction

With the increase in patent fillings infringement disputes are also increasing in an exponential rate. Resolving disputes through litigation can be costly and time taking which threatens the business, as prevention is better than cure investing in analysis and research of patents can minimize the risk of a company and save a fortune. In reality it is never possible to guarantee 100% FTO for an invention as there is an enormous number of patents in existence and thousands of patents are granted every day. Many patents are hidden as it takes 16 months for the patent to be granted after filling so there’s always risk of infringing a patent filled earlier.

Know More

The amount of FTO work should be based directly on the cost of developing the new product and bringing it to the market. If there is significant investment done it is always advisable to carry out an intensive FTO search at an early stage.

When you introduce your new product to the market you are faced with multiple challenges and a patent infringement law suit is the last thing you want to encounter, penalties and royalties will drain your company’s resources and this will affect the product’s life cycle adversely.

When conducting an FTO search at Trayambak Overseas Pvt Ltd, we compare every product feature with available patent references. Each of the features are analysed separately and then merged to comprehend the relevance of the product. To assure that the launch of your product does not give rise to infringement claims this search assists a company by providing with multiple strategies and modifications.

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Patent
Valuation

A Patent is a right which can only be obtained for any particular invention. As per TRIPS Agreement Patents are obtainable for inventions, whether product or processes in every single field of technology notwithstanding of any discrimination, subject to the normal tests of novelty, inventiveness and industrial applicability .
Introduction

It is self-evident from the very notion of a ‘patent’ that valuing patents is not a simple undertaking regardless of the technical art. Valuation (at least the conventional and’ most successful’ techniques of value) rely significantly on indications such as’ real-world benchmarks’ and the ‘presence of analogous products/processes’, and since patented innovations are fundamentally original and non-obvious, it is sometimes difficult to locate these critical signs for correct (or near to correct) valuation. These ‘indicators of worth’ are even more difficult to come by in the case of developing technology, thus complicating the process of patent assessment.

Know More

Despite the inherent challenges of valuing, it is unavoidable. To appraise one’s own patents/patent portfolio and those of a potential business partner, a considerable understanding of valuation methodologies (and their limits) is required. Patents are also increasingly being used as collateral for financial transactions, and are a significant factor in attracting venture investors. For emerging nations such as India, valuation will become more critical as the number of transactions and cooperation between Indian and international enterprises increases as a result of the enhanced patent policy. Knowledge of the different methods used worldwide to value patents is necessary for making informed business decisions that will affect the success of Indian enterprises.

Patent
Appraisal

Patent valuation is the process of determining the present monetary worth of a patent right or combination of rights. At the most fundamental level, it may entail a single patent and a subjective assessment of the patent's value. At its most complicated, it may encompass patent portfolios numbering in the hundreds, with teams of lawyers, economic analysts, and engineers using not just domain expertise, but also mathematics and analytical techniques to evaluate the portfolio's monetary worth.

Patent valuation techniques are extensively used in a variety of nations. The application leaders are often those firms that have acquired patent portfolios totalling hundreds of patents via innovation and a dedication to patent filing. Frequently, a significant portion of these patents are not 'practised,' in the sense that the patent holder is not selling things or services that fall within the patent claims' scope. Nevertheless, the patents were costly to get, remain costly to maintain, and hold potentially significant rights.

Regardless of the method used for valuation, there are many factors that must be considered when assessing whether it is beneficial to start the process of valuation in the first place. Prior to delving into the intricacies of the conventional and informatics-based techniques, it may be worthwhile to review some fundamental concepts.
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