What are Patents in IPR?

Patents are powerful tools that encourage innovation by granting inventors exclusive rights over their novel inventions. They recognise the creativity and ingenuity of inventors who develop new products or processes that provide unique solutions to existing problems. 

The Patents Act of 1970, amended in 1999, 2003 and 2005, serves as the legal framework for patent protection in India. 

Understanding Patents and Their Significance

A patent is an exclusive right awarded to inventors for their innovative creations, which can be either a new product or a novel process that solves a technical problem or presents a unique way of doing something. 

By granting inventors exclusive rights, patents incentivise them to invest time, effort and resources into research and development, leading to breakthrough innovations and technological advancements.

The Patents Act, 1970

The Patents Act of 1970, with subsequent amendments, forms the basis for patent protection in India. It outlines the criteria for patentability, the process of patent application and the rights and obligations of patent holders. 

The Act ensures that inventors have a fair chance to profit from their inventions while encouraging the dissemination of knowledge and information for the benefit of society.

Duration of Patent Protection

Once granted, a patent provides exclusive rights to the inventor for 20 years from the date of filing the patent application. During this period, the inventor has the authority to manufacture, use, sell, or license the patented invention, preventing others from doing so without permission.

Promoting Innovation and Technological Advancements

Patents play a pivotal role in fostering innovation and technological progress. By providing inventors with a limited monopoly over their inventions, patents offer a significant incentive for research and development. This stimulates competition and leads to further advancements, as other inventors are encouraged to build upon existing patented technologies to develop new solutions.

Balancing Rights and Disclosure

One of the fundamental principles of patent law is the concept of disclosure. In exchange for patent protection, inventors are required to disclose their inventions to the public. This disclosure contributes to the dissemination of knowledge, enabling others to learn from the patented technology and create further innovations based on the disclosed information.