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Business Law

Who Can Apply and Be Granted a Patent?

Obviously the original inventor is entitled to apply and be granted a patent over their new invention. However it is often the case that many people are involved in the creation of an invention and therefore it can become quite difficult to ascertain who exactly the patent should be registered against.

Patent applications can be made by an individual inventor or company. In many cases the application can be made by two parties jointly and when the patent is granted the rights are allocated accordingly.

Be aware that if you created you invention whilst employed i.e. either in the course of your duties or during work hours and used work resources, then it could be the case that your employer is legal owner of your invention. Check your employment contract for any relevant provisions. If you are still unclear you should seek advice from professionals, such as InventHelp patent an idea agency.

The Length of a Patent

A patent can be granted for 5 to 20 years. A block application can be made for 0-4 years, anything above this, you must renew the patent every 4th anniversary.

The Benefits of Having a Patent

Prevention against exploitation – having patented protection over your invention means that others are prevented from copying, using or selling your idea without your permission. This keeps the value and originality of your work safe and it is all easily done with InventHelp patent services.

Generating an income – owning a patented product or process can provide a source of income (depending on demand). The patent can be licensed and , or sold the same as other assets. For example if you have designed a revolutionary car engine and patented the ‘revolutionary’ aspect of the invention. If Honda then wished to use the invention in one of its cars, you could license the right to use the patented object to the company in return for capital. You can of course sell your patented rights to another party.

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