What is Patent?

In general, the term patent refers to a right that is given to inventors in exchange of disclosure of his inventive work. Patent is granted by the Government of a country to the Inventor. The current Indian patent system is governed by Indian Patents (Amended) Acts 1970 and Rules (amended) 2003 (herein after called “the Act”). As per the prevailing Indian Patents Act, any invention related to a product or process that is new, having inventive-step and capability of industrial application, is considered to constitute a patentable invention. However, the invention should further satisfy other requirement of the Act in order to obtain a Patent. Section-3 of the Act envisaged a boundary between patentable and non-patentable invention. In contrast, in United States (US) any person who discovers any new and useful process, machine, article of manufacture or composition of matter or any new and useful improvement thereof is entitled to obtain a patent. There are different types of patents exist around the world, which includes biological patents, business method patents, chemical patents and software patents. On the other hand, industrial design rights (which protect the visual design of objects that are not purely utilitarian) or design patents, plant breeder’s rights or plant patents, utility models or petty patents are also exist in some jurisdictions. In the true sense, patent is legal document given to the inventor not enjoy monopoly of his novel product or process but to exclude other from making, selling, using or distributing his invention. Because of this some times Indian patent is called a negative right. The main goal of patent is to encourage inventors to advance the existing state of technology by awarding them a monopoly right to benefit from their invention. Hence it is said “Patent is an award for the inventor and a reward for the investor.”