The object of granting a patent in India is the encouragement and development of new technology and industry in the State. A patent is an exclusive right granted to a person who has invented a new article or a process of making a new article. the exclusive right is to manufacture the new article invented or manufacture the article according to the invented process for a limited period of time. It must however be noted that a patent granted in one country cannot be enforced in another country unless the invention concerned is patented in that country also.
Basis of Patent system in India
According to Ayyangar’s Report, the theory upon which the patent system in India is based is that the opportunity for acquiring exclusive rights in an invention stimulates technical process in four ways: first, that it encourages research and invention; second, that it induces an inventor to disclose his discoveries instead of keeping them as a trade secret; third, that it offers a reward for the expenses of developing inventions to the stage at which they commercially practicable; and fourth, that it provides an inducement to invest capital in new lines of production which might not appear profitable if many competing producers embarked on them simultaneously. manufacturers would not be prepared to develop and produce important machinery if others could get the results of their work with impunity.
Annuities, Renewals and Other services
We provide further services once a patent has been granted. The services include regular payment of annuities, filing of working statements etc. We also assist our clients in restoring patents and patent applications. Further, upon grant of a patent, we also provide assistance in licensing of the patents and technology transfers. Accordingly, services related to valuation of the intellectual property are also provided by VNA Partners.
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