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PATENTSHIP

PATENTSHIP. What is a Patent?. Patent is an exclusive and monopoly right to use the patented invention for a limited area and time (20 Years) by stopping others from making, using, importing or selling. Patents are territorial rights,

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PATENTSHIP

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  1. PATENTSHIP

  2. What is a Patent? • Patent • is an exclusive and monopoly right • to use the patented invention • for a limited area and time (20 Years) • by stopping others • from making, using, importing or selling. • Patents are territorial rights, • so a Pakistani patent will only give the owner rights • within Pakistan and • rights to stop others from importing products into Pakistan • No concept of International Patents • When a patent is granted, • the applicant becomes the owner of the patent. • Like any other form of property, a patent can be bought, sold or licensed.

  3. Invention • An Invention means • A new product or process; • Involving an inventive step; • Capable of industrial application Essential Ingredients of Patents • Novelty • Inventive Step • Lack of Obviousness, • Sufficiency of description.

  4. What is the need for Patents? • To enjoy monopoly of the invention through exclusive rights • Right to manufacture • Right to sell • Right to import, etc. • Inventions should be encouraged for public interest • Encourage the disclosure of inventions in preference to their use in secret

  5. Benefits Of Patents • Reducing the number of competitors in the market • Confidence for venture capitalists or other investors • Increase the value of the company

  6. What Cannot be Patented • Mere Idea/Discovery • Contrary to Natural laws • Contrary to Public Morality or Order • Mere Arrangement/Rearrangement • New use/property of a known material • Method of Agriculture/Horticulture • Plants and Animals except Micro-organisms • Mathematical or Business Method • Process of treating human beings or animals • Atomic energy • Traditional Knowledge

  7. Types of Patents • Utility • Plant • Design

  8. Utility Patent • Whoever invents or discovers any new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement thereof, may obtain a patent

  9. Plant Patents • Whoever invents or discovers and reproduces any distinct and new variety of plant

  10. Design Patents • Whoever invents any new, original, and ornamental design for an article of manufacture may obtain a patent.

  11. Patenting is easy. • Inventing is tough.

  12. Old story • Formulate Hypothesis, • Accumulate Data, • Do Extensive Testing! • Face competition

  13. New story • Formulate a hypothesis, • Patent it. • Raise millions!

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