A patent is an intellectual property (IP) right. It is the IP right granted by the government to anyone who makes an invention, allowing the inventor to exclude anyone else from making, using, or selling their invention.
There are still some myths associated with patents that need to be clarified-
Myth 1: TECHNOLOGY CAN BE PATENTED
For an invention to get granted as a patent, it has to satisfy the criteria of novelty, that is, it should be something absolutely new that is not known in the public domain. Accordingly, if you publish something today you will not get a patent on it if you apply tomorrow, as the invention will already be in the public domain at the time of filing
Myth 2: A PATENT ONCE FILED GIVES THE OWNER THE SOLE RIGHT TO MAKE, USE, AND SELL THEIR INVENTION
It certainly is a myth and the reality is that it gives the owner the right to exclude others from making, using, and selling their patented invention.
Myth 3: PATENT FILED IN ONE COUNTRY IS SUFFICIENT
No. A patent holder has only 12 months after a patent has been granted to make an application to foreign countries from the date of filing in the original country of the invention. So, if you apply in India today you can only take the application to the US, Europe, etc. within the next 12 months and it usually takes 3 to 4 years to get a grant, therefore, you will have to decide on going international within 12 months. This period of 12 months can be extended to 30 or 31 months by filing a PCT application.
Myth 4 : A PATENT, ONCE GRANTED IS ENFORCEABLE AROUND THE WORLD
Patent protection is territorial by law. So, if one needs protection in multiple countries, one has to file a patent application in each of these countries. There is no such thing as a global patent. Therefore, if you have a patent in India, but not in the USA, then anyone can legally make, use or sell your invention in the USA You will not be entitled to any royalties out of the exploitation of your invention in the USA.
Myth 5: GETTING A PATENT IS VERY EXPENSIVE
With the increase of awareness about patents and the corresponding increase in the skill-set related to patent drafting and the prosecution, the professional fees for drafting and filing patent applications are well within the reach of individual inventors
Please share with us if you know any more myths about the patents.