Question

Explore the concept of Patents.In what way a BUSINESS LOGO is essential to Patenting? Is there any requirement for an invention to qualify for a patent? Answer with concrete business examples.

Answer 1

A patent is a form of intellectual property right which is used to protect inventions. Originally, patents are intented to disclose the invention in the public domain for collective good.

To receive a patent, it must have the following characteristics -

- Novel - The invention which is sought be patented must be new. Such invention must not already exist in the market.

- Useful - The invention for which patent is sought must have certain usefulness. It must be capable of providing utility.

- Unobvious - The design/invention should not be obvious to the person who has skill in that area. \

Patents provide incentive to invest in research and development. It allows the creator of an idea i.e. the inventor to recover the high initial costs associated with research and development.

A logo is indicative of brand and image. Consumers identify their favorite products with logos. Thus, logo makes it easier for companies to attract and retain consumers by making them loyal to their brand.

A logo cannot be patented because inherently patent can be obtained for an idea or an invention. A logo can be protected via similar form of intellectual property right namely - Trademarks.

A logo can be anything - words, design, images or a combination thereof.

Benefits:

- No-one can use the logo of a company without it's permission. Thus, it provides uniqueness to a company's products and services and makes it easier for customers to identify them.

- Any infringement can be dealth with a legal action.

- It is a valuable asset which appreciates over time

Some of the most famous patents are as follows -

- Lightbulb - It was given to Dr. Thomas Alva Edison

- Google PageRank - It was developed by Larry Page. It calculates the importance of a webpage by counting the number and quality of links attached to it.

- Dropbox - This patent details how multiple clients can share files and their contents across a network.

- GoPro - GoPro’s growth exploded in 2009 upon the release of its own line of affordable video cameras.

If you found the above answer useful, request you to please take a moment to up-vote the same. It will help me in providing you better services in future!