How to Get Patent for Startup Idea? – An Overview

To execute any Startup Idea, first, you must know the meaning of a Patent. In India, a Patent is a legal license issued by the IPO which is an agency under the DPIIT or Department for Promotion of Industry & Internal Trade that provides an inventor ownership rights to their invention for twenty years and permits the inventor or innovator to manufacture, offer for sale & even sell the patented idea or product in the country. So what are you waiting for? Quickly get Patent for Startup Idea now. Scroll down to check more details regarding Patent for Startup Idea.

Can We Obtain a Patent for Startup Idea only?

No, but a Patent can be attained for an invention derived from an idea. Moreover, the innovation should comprise a description of the invention and be attached to the Patent application.

Who can apply for a Patent for Startup Idea?

Following is the list who can apply for Patent Registration for Startup Idea:

1. The inventor of an idea;
2. The co-inventor;
3. An executor or a legal representative of the inventor;
4. The individual to whom invention has been transferred.

What is the need and benefits of obtaining a Patent for Startup Idea?

A Patent is necessary for new Startups to safeguard themselves. This is because IP protection is one of those unavoidable and necessary business necessities. Besides that, a Patent issues an exclusive authority over the invention, safeguarding it from exploitation. A Patent idea should be one of a kind and a Patent granted in India is valid for twenty years and involves a territorial right that is distinctive to India’s boundary.

Following are some benefits of getting a Patent for Startup Idea:

1. A Patent is a sign that you are doing something great and outstanding. News of getting Patent Rights create chaos in the market and helps in growing the Company Valuation^[1].
2. A Patent always gives you various advantages over your competitors. Even if you are not planning or preparing to develop & commercialise your innovation, a Patent can stop others from creating or making a product that may compete with your present current portfolio.
3. Various schemes & incentives for providing IP protection for Startup.
4. Schemes to confirm Startups are given with a high-quality service & knowledge base.
5. Legal assistance and fast-track Patent examination at a subsidised cost.

These benefits are available to eligible startups only after getting a certificate from the Startup Certification Board.

To avail of such benefits, Startups need to have:

• Certification from Startup Certification Board for holding innovative research with a legal firm registered in India not older than five years;
• Further, the Startups’ yearly turnover should not exceed Rs. 25 crores in any of the preceding financial years.

Documents Required for Obtaining Patent for Startup Idea

Following are all the vital documents required for Patent Registration for Startup Idea:

1. Title of the Startup or invention;
2. Description of the Startup or invention;
3. Identification documents of the inventor such as passport, voter ID card, or driving license.

Procedure to get Patent for Startup Idea

To obtain Patent Registration for Startup Idea, you need to follow the steps mentioned below:

1. First, you have to check if your Startup idea is entitled to Patent Registration;
2. Then, articulate a detailed Patent application;
3. Thereafter proceed with filing an application for Patent and keep the prototype of your idea;
4. Submit the application form for Patent Registration;
5. Then the application will go for the examination and reply to all objections;
6. If all the steps have been completed, then you will be granted your Patent;
7. Then you have to renew your Patent by paying the annual fee.

Conclusion

While you can maintain the holiness of an invention or idea without filing a Patent application, the legal aspect of this must be deemed because it will permit others to copy & misuse the invention by making a few changes to overcome your lawful sanctions. Moreover, an expert can help you in understanding the details or information required to be comprised in your Patents like illustrations, explanations, drawings, special materials used and expertise that cannot be easily copied.

Finally, it should be reiterated that it’s in your best interest to Patent your Startup Idea. Patenting your Idea or invention safeguards you because your competitors will be barred from profiting from the invention you created.

Read our Article:How Can You Safeguard Your Patents in E-gaming Industry?