Be Secured. Get Patent.

After my post on MyIPO was published, a few of my entrepreneur friends contacted me as they were intrigued (some are worried, I assume) about their exclusive rights to their creations.  Some of my friends are fashion designer, beauty consultant and IT consultant and they have operated for quite some time but due to the lack of knowledge about such creation protection, they have never thought of seeking for any form of protection for their rights, creation-wise. Syukur as they have now in the midst of filing for the patents of their creations. Let us all learn more about the subject matter of patent.
WHAT IS A PATENT? A patent is an exclusive right granted for an invention, which is a product or a process that provides, in general, a new way of doing something, or offers a new technical solution to a problem. To get a patent, technical information about the invention must be disclosed to the public in a patent application (Source: World Intellectual Property Organization). Whereas, a utility innovation is an exclusive right granted for a 'minor' invention which does not require to satisfy the test of inventiveness as required of a patent (Source: MyIPO)

CAN I FILE A PATENT FOR ANYTHING?

The answer is No. There are some creations/ inventions that are patentable and some are not applicable. 

So, here is a guideline to identify a patentable invention:

• New, which means that the invention has not been publicly disclosed in any form, anywhere in the world. 
• Involve an inventive step, that is to say, the invention must not be obvious to someone with knowledge and experience in the technological field of the invention. It is also safe to say, being innovative with an existing product does not warrant for a patent.
• Industrially applicable i.e. it can be mass produced.

And here is a guideline for non-patentable invention:

• Discoveries, scientific theories and mathematical methods. 
• Plant or animal varieties or essentially biological processes for the production of plants or plants, other than man-made living micro-organisms, microbiological processes and the products of such microorganism processes.
• Schemes, rules or methods for doing business, performing purely mental acts or playing games.
• Methods for the treatment of human body or animal body by surgery or therapy, and diagnostic methods practised on the body.

WHY PATENT?

Where should I begin? 

1. We get an insurance policy for our health and our belonging to protect our welfare should something happen to the health or belonging. So, a patent protects the patented invention from being exploited by others, mostly for financial gain. It will be a crime and frustrating to see some else reaping what you have sowed. 
2. Alternatively, you can licence the patent so others can use it, or sell it, as with any asset. This can provide an important source of revenue for the business. Thus, we hear about people getting royalties - this is how they do it. It is to assign or transmit the patent to provide a source of revenue.
3. Once you have a patent, you get protection for a pre-determined period, allowing you to keep competitors at bay, thereby reducing competition and establishing yourself in the market as the pre-eminent player. You can use the invention and use it for your own gain. 
4. Having invested a considerable amount of money and time in developing one's invention, you could commercialize the invention to obtain higher ROIs!
5. Business partners, investors and shareholders may perceive patent portfolios as a demonstration of the high level of expertise, specialization and technological capacity of your company thus projecting a very positive image to others.

Here is another great advantage of patenting the invention, it will last for 20 years from the date of filing! I could only imagine the benefits one get upon a very lucrative patented inventions! So friends, what are you waiting for?

Go and file for a patent should your invention adhered to the above guidelines. And anybody, I mean anybody and a company could file for a patent over their invention. 

Here's the fastest way to apply for a patent, just fill it in and submit ok guys [Apply for Patent]

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