"Unless a product is new, captures the imagination of the
people and creates value, it is lacking its appeal to the public at
large." Now let us dig deep in this statement. It becomes all
the more clear that regardless of the size of the organization, big
or small, the relevance of innovation cannot be neglected.
Secondly, innovations safeguarded by patents will be having a far
reaching comparative advantage for an organization than its peers.
Understandably, patents have a far greater reach to protect the
inventions and add value in terms of revenue.
If startups are created with an intent to be ‘tech
heavy’ in its offerings, patents become all the more crucial.
Patents effectively grant the right to exclude others from
practicing a claimed invention. A well drafted patent directed to a
novel and non-obvious invention can grant a startup an effective
If observed carefully, almost all innovations are built on
earlier innovations, and larger companies usually have patents that
cover the earlier innovations. Thus, patents can act as a shield
for small startups and can protect them from larger companies from
knocking out their technology. In addition, patents are critical to
the ability of a startup to raise money. Even if a startup’s
business fails, the patents will survive. Investors can sell the
patents to companies that were more successful.
But startups typically do not have the time or money to protect
or prosecute their IP. Talking of even an M&A scenario, if a
small company has no formal protection associated with their
technology, many large companies will hesitate to acquire them for
fear that the small company may be (knowingly or otherwise)
infringing on another third-party’s IP.
In addition, unlike startups, big companies have the time and
money to prosecute and protect their patents and other intellectual
property assets they acquire. Thus, the same patents can be
relatively worthless in the hands of a fledgling startup and
extremely valuable as part of a big companies IP portfolio.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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This article enunciates the recent, much awaited, and landmark judgment delivered on September 16, 2016 by Hon'ble Delhi High Court throwing light on the important provisions of the Copyright Act, 1962.
Department of Industrial Policy and Promotion recently issued an office memorandum pursuant to receiving representations from various stakeholders for guidance with respect to the applicability of the provisions of Section 31D of the Copyright Act, 1957.
An Invention Disclosure Form is the documentation of the invention. This is a means to document particulars of your invention and submitting it to the patent attorney who is filing your patent application.
The Patents Act 1970, along with the Patents Rules 1972, came into force on 20th April 1972, replacing the Indian Patents and Designs Act 1911. The Patents Act was largely based on the recommendations of the Ayyangar Committee Report headed by Justice N. Rajagopala Ayyangar. One of the recommendations was the allowance of only process patents with regard to inventions relating to drugs, medicines, food and chemicals.
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