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An invention can be protected by a granted patent.
A granted patent provides the owner with the exclusive right to an invention within the marketplace. It is a government sanctioned monopoly provided to the owner to exploit the invention to the exclusion of others. This monopoly lasts for the term of the patent. This term varies with the type of patent sought (between 8 and 20 years).
What can be patented?
There are certain requirements which must be met under the Patents Act before an invention is considered for patent. To obtain a patent, the invention must meet the following criteria:
- Be a manner of manufacture
- Be novel
- Be useful
- Possess a sufficient level of inventiveness.
The types of inventions which can qualify for patent protection are broad ranging, some of which include:
- Products and devices;
- Mechanical apparatus;
- Business methods;
- Biotechnology related products;
- Computer and internet based software and processes.
Why seek Patent Protection?
Obtaining a granted patent adds value to your invention and your business in the following ways:
- You can exclusively benefit from the financial rewards flowing from the commercialisation of the patented invention.
- You can threaten and if required bring patent infringement proceedings against an unauthorised user of the invention, protecting its monopoly and market share.
- Having a patented invention, even in its early stages of commercialisation, will assist your bargaining position in negotiations and in forming relationships with potential partners, venture capitalists and licensees. It demonstrates to the potential business partner the viability, value and potential market share claimed by the patented invention.
- A patent acts as a valuable notice of your claimed rights to the invention. Appropriate patent notices and the presence of patents on the Patent Register act as a valuable deterrent to would be infringers/unauthorised users. Prevention really is better than cure.
- A patent protects the investment in time and resources that you have put into the research and development.
Actuate IP’s patent attorneys
Actuate IP's qualified patent attorneys and lawyers provide an expert and tailored approach to assisting with the implementation of patent strategies for businesses. We advise on:
Located in Melbourne, our patent services extend to all areas of Australia including Sydney, Brisbane, Perth, Adelaide, Hobart, Darwin & Canberra.
Place an online enquiry to contact a Patent Attorney or call us on 1300 768 730.
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