Who Says Patent Protection is Costly?
There aren’t too of us who have not dreamed of getting a patent to our name. When it comes down to it, though, the reality of costs involved in filing for a patent and the complications involved hit us, possibly rendering us slightly less enthusiastic about the prospect than we once were.
This presentation, by Mr. Somashekar Ramakrishna, offers up the clarity and ease of understanding the process, by giving us a demonstration of a cost effective way of patent filing that might help us make an informed decision. For instance, the first slide gives us an approximation of the costs involved in the patent filing process up till grant in 2 countries, namely India and US. As we go further through the presentation, we will see how essential the working knowledge of the patent filing process is, the options that need to be dealt with before bridging the gap between an idea and reducing it to practice.
Further, we come to address the dilemma of what constitutes our invention and how to disclose what we believe is the most essential portions of our invention. Also, the time at which to file for a patent application is of utmost importance. We go on to see the effects of having filed a patent application on the patent applicant’s business needs and the benefits of gaining an early filing date. The drafting of a patent application is usually done by experts in the field through to the finalization of which many iterations and/or interactions may be necessary. The claims are known to be the single most complex part of a legal document to be drafted. Hence, the necessity of experts.
The stage of prosecution involves a minimum of one and an unknown upper limit of rounds of interaction with the patent office under which we seek patent protection. This stage usually involves justifying the reasons for which we claim patent protection. Grant usually happens about 3-4 years from the time of application for a patent. There are other costs involved in maintaining a patent once it is granted. Selecting the right patent professional is an essential step in cutting costs and gaining the rights that we intended to in the first place. A correct strategy should be in place and it can be improvised on as we go along through the process.
With the recent increase in costs for filing a patent application from the IPO, we could hope to benefit from the presentation. Any clarification/query may be addressed to [email protected].