In: Finance
Patents are exclusive rights given to an inventor by a government according to Scott and Cornelius (2017:458). In South Africa, the Registrar of Patents and his staff evaluate a patent. Formalities and administrative matters are checked to ensure compliance with all formalities are met. In regard to the above statement outlines the requirements, application, specification, and infringement of patents
Requirements of Patents.
In order to get patent an invention must fulfill some requirements. Every invention must be new or novel. If the invention is found to be disclosed in any part of the world the patent right will got cancelled. An invention must be capable of being applied in trade industry etc. That means invention must be useful or productive. There is also a subject matter requirements that is the subject matter must be covered under the law. An invention should not be an extension of already existing products of inventions. Or it should not be obvious.
Application for patents
In order to apply for patent a company first of all needs to ;
describe about their invention,the very first idea they got , full explanation of the concept, preparation of modelor prototype.the process of inventions also needs to be described.
There are certain criterias to get patents . If the invention is having any similarities or it is an obvious outcome of another invention the application for patent will got rejected.
It is also necessary to assess the invention, their potential and capability as a commercial invention.
Conducting research is significant to check the field of invention to know whether there is related inventions anywhere. Searching can be done on internet or can check on the depository library for patent.
An application have to be prepared after that. There are two kinds of applications,REGULAR PATENT APPLICATION (RPA)& PROVISIONAL PATENT APPLICATION (PPA). RPA is the exact application whereas PPA is not an actual application it gives a pending application for patent. First a provisional application is given then a complete application and a Patent Cooperation Treaty (PCT)
Specification of patents.
To get Patent one have to make specification which includes complete description of invention. In a specification the legal and technical details or features of invention have to be mentioned. In a specification there must be a:
Title for the invention
Reason or background of invention.(Idea)
Objectives of the invention
Description about invention
Claims for getting the patent.
Abstract of Patent.
Infringement of Patents.
It is a part of unethical and unlawful activity. As it is a unauthorised selling manufacturing or importing of Patent without the knowledge or permission of the original Patent holder. In case of Patent infringement Civil courts are having the right to take decisions. If an infringement is found to be intentional the court will order for penalty to be paid by the infringer and give it to patent holder