A provisional patent is a primary step and is to get protection before being able to register a whole patent. To get a whole patent, a lot of characteristics of the design and its specifications are required. When a person is involved in R&D even if they do not have a completely formed design or method that is patentable, they may acquire a provisional patent to preserve their work.
By filing for a Provisional Patent Application online with PareekG.com
A patent is an exclusive legal power of any inventor that gives him the legal authority to forbid others from making or using an appropriate invention. Provisional patent registration is the initial step towards registering a patent. A provisional application is a short synopsis revealing the nature of the invention. It is the introductory application that can be registered before filing the complete specification.It describes the patent in brief but not entirely. Filing a provisional patent is very beneficial for inventors as it secures the priority date and secures the invention so that no one else can replicate it or claim influence over it.
Filing a provisional patent enables the applicant to secure a priority date for his patent and thus refraining any other individual from copying or filing such a similar patent.
It gives the patent holder the legal right to file a case of infringement if anyone tries to exploit the patent without the owners’ permission. The patentee, his/her assignee, licensee, or agent has the right to institute a civil suit in a court not lower than District Court in a case of infringement.
If an invention is patented, indirectly surge brand recognition and conceivably empower the business to charge a premium price to the customers. Especially, if a product that has great usefulness in the market would help to expand the valuation of the patentee’s business.
Filing a provisional application is a simpler and affordable step for initial patent protection. The inventor gets 12 months before filing the complete specification which is referred to as a permanent patent in the common parlance. This period gives the applicant enough time to contemplate whether the invention has enough potential to be patented and gauge its feasibility. Changing the decision within these 12 months does not attract any charges/penalties and the applicant can cautiously decide if the investment is worth it.
A provisional patent gives the inventor time to work on the invention and brush up on its utility, novelty, and the inventive factor until it is finalized as per the established standards. A period of 12 months is given to file the final patent draft called a complete specification.
The patent is a great asset and has a potential to extract way bigger monetary benefits than any other intellectual property, ifmanaged intelligently. Many pharmaceutical companies have made great profits through their patented chemical formulas byways of licensing, assigning, etc.
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