Our team shall review and call you back in 3-4 hours.
Our team shall review and call you back in 3-4 hours.
Our team shall review and call you back in 3-4 hours.
A patent is an exclusive set of rights granted by the authority to the applicant of an invention for a period of 20 years under the Patent Act in India. It is a legal document that provides an inventor with the exclusive right to make, use, and sell an invention for a specified number of years.
A patent is an intellectual property that safeguards your invention, preventing others from using it without your permission. Ideas and concepts are also eligible for patent protection.
The initial step of patent registration, known as patent filing (Provisional Application), ensures that no other person can claim the same invention for 12 months. Within this period, a non-provisional application with complete claims and description must be filed. If someone attempts to claim the invention during this time, their request will be rejected.
Patent holders receive exclusive rights for 20 years, granting them an absolute monopoly over the product or process for the duration of the patent.
Patent rights can be licensed to other companies, allowing the patent holder to receive royalty payments.
Patent rights can be sold or transferred to others in exchange for fair consideration.
Patented innovations can be leveraged to grow and expand your business.
A patent is considered an intangible asset in accounting, similar to other fixed assets. Its value in the books is recorded using either the Cost Model or the Revaluation Model. For more details on valuation, refer to Accounting Standard 26 issued by ICAI.
After Company incorporation, you will receive below documents
Effects India, where professionalism meets excellence. Established in 1995, we have built a reputation for delivering comprehensive consultancy services across diverse industries. Our team comprises dedicated professionals including Company Secretaries, Chartered Accountants, Advocates, Solicitors, Management Professionals, and IT Experts, all committed to providing top-notch solutions tailored to your business needs.
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