Patents – Benefits Of Having Your Products Registered
Patents are particularly important as it gives one the exclusive right to a certain product that one invented and prevented another person, entity or company to manufacture the product without the express consent of the inventor for a limited period, which is usually 20 years or less depending on the country of issuance.
Patents are given to inventors or creators and can be sold, transferred or even freely given to another by its inventor and can be improved by other inventors subject to the approval of the original inventor if it is still covered by the patent agreement.
For one to claim and granted a patent for one’s invention one should follow the rules and international agreement under the WTO or World Trade Organization concerning Trade-Related agreements on Intellectual Property Rights.
Types of Patents
Utility Patents. Utility patents given to inventors who invented or discover new products or machine, which are useful in the manufacturing industry. Utility patents are given to protect functionality of a machine or manufactured product. The patent prevents the selling or making of the product by the competitors for up to twenty years.
Design Patents. Design patents are given to those that have invented original designs or ornamental features or altering the appearance of an invention or product. In the US, inventors who apply for design patents can prevent and exclude others from selling, using or making the designs for up to fourteen years.
Plant Patents. Plant patents are given to people who have invented or reproduced a new variety of plant without use of tubular plants and reproduced it asexually through means of root cuttings, grafting, bulbs, nucellar embryos, runners and tissue culture among other means of asexual reproduction method.
Benefits of Patents
Having a patent for your product provides additional benefit that excludes other inventors. For one, inventors are allowed to sell the invention and thus have added capital to pursue other innovations or products as well as improve on the invented product.
Another benefit is that one can license and sell the product while retaining the IP rights. This allows the inventor to retain the rights to the product and improve the product at the same time. With having one’s invention patented, others cannot sell the product without the permission of the inventor.
Before applying for patents for one’s invention, it is important to note that not all countries follow the same patent ruling it is therefore essential for the inventor to check out international patent rights of each country that one wants.