Benefits of Provisional Patent – An Overview

If any inventor has invented something different, unique, and non-obviousness invention, the first thing the inventor needs to do is getting Patent Registration. There are many examples in history where many people lost out because someone copies or misuse their invention or idea illegally. Such models should make us careful of others and, therefore, take the correct steps to safeguard our interests. But, filing a Provisional Patent right away may be a costly and time taking affair. By filing a Provisional Patent, there are many benefits of Provisional Patent that any inventor can avail. In this blog, we are going to discuss the benefits of Provisional Patent.

What is the Meaning of Provisional Patent?

Before we discuss the benefits of Provisional Patent, let us first understand the term Provisional Patent. A Provisional Patent works beneficially as a meantime utility Patent managed by the Patent Office. It may be filed without any declaration, claims, or disclosure agreement^[1]. Even without such documents, a provisional license offers the Patent owner protection over their invention or idea. The validity of the Provisional Patent for one year, following which the proprietor should file a regular application of Patent. Having a Provisional Patent accepted gives the owner or proprietor the right to use the tag Patent Pending while engaging with vendors & manufacturers. Such tag also performs as prevention to an individual who wants to use the invention or idea commercially. It serves as a lower cost initial step preceding the filing of a non-provisional Patent. The one extra year of protection it delivers permits the inventor to estimate the product’s market potential and encourage it.

Types of Patent Application

• Ordinary Application: This Patent application is filed without claiming priority or orientation to any earlier applications under process with full specification and claims.
• Conventional Application: This Patent applicant has been filed in another nation and then filed for a similar invention in India within twelve months of filing it in another country.
• PCT National Phase Application: This application of Patent can be fillies within thirty-one months from the international date of filing.
• PCT International Application: It permits filing up to 142 nations. The time period is between 30 to 31 months from the global filing date to enter and claim protection in each country.

What are the Major Benefits of Provisional Patent in India?

Following are the significant benefits of Provisional Patent:

1. The most significant benefits of Provisional Patent is that it requires less formal and lawful requirements. Such a lower formality threshold makes things hassle-free for entrepreneurs and inventors. Since filing such a Patent needs more insufficient legal attention, it requires lower cost and effort to make a reality. Moreover, the time taken will notably reduce as they are lower strict rules.
2. Since the application of provisional Patent can be filed twelve months after first applying the Provisional Patent application, this time might be used to estimate the design or invention. Such a procedure very much benefits inventors and small entrepreneurs.
3. In some nations, filing a Provisional Patent makes their invention responsible for protecting overseas priority. All the Paris Convention’s signatories will likely give to the succeeding applications of Patent. The Paris Convention brings jointly almost 165 of the world’s most commercially active countries and information their Patent priority.
4. Most of the filings need only a write-up concerning the invention and a set of figures presenting how the design works. The application for Provisional Patent filing comes later. Hence, entrepreneurs can submit such a request on their own in most cases.
5. Provisional Patents work as an effective, short-term solution that aids inventors monetize and encourage their invention and idea easily. It gives out an efficient and affordable way to secure a design or concept.

Some Additional Benefits of Provisional Patent:

1. Filing an application of Provisional Patent makes it likely for the owner of Patent to begin the commercial encouragement of the Product. The major fear that inventors have their product will not pass to attract attention and that they may be stolen. Whenever an entity begins to announce its products, others have the opportunity to steal and commercially use that idea or innovation. But, by filing the provisional application, inventors can stay guaranteed that their invention remains theirs, though also seeks inventors and commercial feasibility. Also, the filing of such provisional application permits for potential control of their innovation or idea. Hence, the inventor can look for license, find inventors, encourage the product and raise the money for mass production.
2. Huge entities can begin taking with vendors & manufacturers once they file a provisional application. Such discussions can be made after making the vendors sign strict non-disclosure agreements.
3. Another vital benefits of Provisional Patent delivery is that many of them may be filed and referenced. Hence, while registering a permanent license, many Provisional Patent can get together to form a single well-thought-out product. Hence, this works as an efficient way to safeguard a company’s greatest interests while the product is going through development.
4. A Provisional Patent efficiently adds another year to the protection of your product. Within this year, you can continue to improve the product and try to find inventors to back the product commercially. In most nations, a Patent is valid for twenty years, and so with the help of a Provisional license, the validity for twenty-one years. For recommended drugs, fast-moving consumer electronics and goods, such a one year can deliver various benefits of Provisional Patents.

Conclusion

It’s effortless, hassle-free, convenient, and inexpensive to file an application for Provisional Patent, and the associated benefits of Provisional Patent are enormous. Hence, it is suggested to go for filing an application for Provisional Patent as soon as possible. Moreover, the paperwork in filing an application for Provisional Patent is minimal and hassle-free. Though it is advisable to involve a Patent agent or attorney, however, if you don’t want to, an application for provisional can quickly be filed online directly with the Patent Office.

Read our article:What is the Concept of Patent Compulsory Licensing?