Patent Prosecution for MSME’s
A patent is a special, exclusive right that is generally granted to the inventor to exclude others to use, make and sell an invention for a specific period of time. The reason behind enacting the patent law is to encourage inventors more by giving them protection for their invention and giving them exclusive rights, this will help inventors to contribute more in their fields. In the modern-day scenario, the term patent is referred to a special right granted to the inventor for his invention which can be a new, non-obvious article, the machine, process, etc. The word patent is derived from the Latin term “patere” which means “to lay open” i.e to make available for public inspection. Accordingly, there are three basic tests or criteria for an invention to be patentable.
Patent Prosecution:[i]
Patent prosecution is the process in which the examiner makes the examination report of the patent application. It involves arguing for patentability of invented devices, machines, methods, etc. it is the process of drafting, negotiating and filing applications with the respective patent office to obtain patent protection. One of the important steps involved in the process of grant of a patent is the patent examination which is known as patent prosecution. Sometimes patent prosecution describes as the process of interaction between applicants and their representatives, which involves arguing before the patent office or negotiating before the patent office to get the approval of the patent application.
The term prosecution here refers to filing a patent application with all of the proper patent offices. The formal method of examination is that whether the applicant has furnished all relevant information and has disclosed all other information as required, whether proper fees have been paid etc.
In this new knowledge-driven economy, MSMEs, being well-tried mastermind within the broad sense, kind of bulk of enterprise and plays a significant role in job creation, investment and exports and as a major contributor to the country’s economic process. Intangible assets, together with innovative concepts, info, and ability became central business assets for the MSMEs.
In order to extend their potency and be internationally competitive, MSMEs have to be compelled to perpetually improve their potency, scale back production prices and enhance the name of their merchandise & services by:
Investing in analysis and development, acquiring new technology, improving management practices, developing artistic and appealing styles, marketing their merchandise and services
Intellectual property (IP) law aims at safeguarding creators and alternative producers of intellectual merchandise and services by granting them sure time-limited rights to manage the utilization product of those productions. Those rights don't apply to the object during which the creation could also be embodied however instead to the intellectual creation in and of itself. Property permits MSMEs to possess exclusivity over the exploitation of their innovative merchandise, their artistic styles, and their brands.
Various information processing rights offered to MSME beneath information processing law:
The information processing protection helps the MSMEs to ascertain enterprise/business identity through stigmatization strategy. It helps shield innovation through patents, utility models, and trade secrets of the MSME. It protects ability by styles and authors' rights. IP protection prevents competitors from imitating merchandise or services.
It enhances the worth of the company through effective information processing quality valuation and management and offers varied access to risk capital and alternative sources of finance.
Legally protected property assets, square measure essential for business success. So as to realize their growth plans, MSMEs ought to have a powerful information processing portfolio. Managing information processing is one of the key tools for any business in creating a globally economical and competitive MSME. The MSME’s property quality management strategy should be developed with the understanding of the topography of the intellectual property world, either by geography or style of trade.
Effective information processing management permits businesses to use their intangible property assets to boost their aggressiveness and strategic advantage. The value of any enterprise, together with MSMEs, is progressively determined by its portfolio and best use of information processing assets.[ii]
Intellectual property rights commonly known as IPR is one of the important instrument to give legal rights to the innovation. IPR include trademarks, GI, patent, copyrights, protecting them boosts the effectiveness of MSMEs. Protection of IP is essential for the promotion of technological, economical development of a country as it will provide assurance to the inventor for adequate returns on investment.
This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being. Further, despite all efforts that have been made to ensure the accuracy and correctness of the information published, White Code Consulting & Governance shall not be responsible for any errors caused due to human error or otherwise.
[i] Dennemayer- The IP group, What is patent prosecution?, Lexology, July 30, 2020,
Also available at: https://www.lexology.com/library/detail.aspx?g=8abd5780-efe2-44be-b8ec-9179a9a55af9
[ii]Ms. Soumya Shree, MSME and Intellectual Property Rights, Altacit Global Attorneys at law, Also available at: https://www.altacit.com/resources/ip-management/msmes-and-intellectual-property-rights/
