The patent also being a branch of intellectual property rights provides a monopoly to an inventor regarding process and product. Monopoly denotes giving of an exclusive privilege for buying, selling, manufacturing, using of product. With the patent filing procedure in India, the inventor is granted with exclusive right with respect to the invention in exchange of which he has to disclose every information regarding the invention. It is granted for a particular period after which it comes into the public domain where people can use the invention for manufacturing, selling and using without any restriction. Laws of the patent are intended to make a balance between intellectual property holder and the public.
For claiming a patent one has to fulfil three requirements i.e. novelty, inventive step and industrial application. Patent rights are not available on extension or modification of pre-existing technology. In India Patent Act, 1970 deals with patent laws. Patents are granted to encourage invention and to secure that invention. Protection and enforcement of patent rights contribute to the promotion of technological innovation and social and economic advancement of society. To avoid an evergreening patent is granted for a particular period i.e. for 20 years from the date of filing of the application or priority date. After this period patent goes to the public domain. When some significant improvement is made in the invention then patent of addition is granted to an inventor in which time period of protection of a patent is not extended instead exclusive rights are given to inventor on the improved patent. When the invention is frivolous, contrary to natural laws, public order, morality, prior publication, traditional knowledge, and geographical indication then the patent is not granted to the invention.
Unlike copyright and trademark, in the patent, no protection is given to unregistered inventor. Only registered patent holder can claim right under Patent Act, 1970 one who has not registered his invention cannot claim the protection of idea or innovation. In the patent, a person other than the patent holder can use invention by taking a license from the patent holder. There is also a concept of compulsory licensing so that the patent holder did not misuse the rights conferred to him.
Registering a patent requires an inventor to first file a provisional application/ complete application/ conventional application. The date of filing any of the application is the priority date of the patent. Period of patent expiry is assumed from the priority date. The inventor has to show full disclosure of the invention to the controller in the complete specification which has to be filed in 12 months from the date of provisional application. After filing complete specification inventor has to file an application for examination, after filing for examination, the examiner examines and submits a report to the controller on basis of which patent is granted to the inventor. Both pre-grant and post-grant opposition can be filed against a patent application. Even if the patent is granted then also an application for revocation can be filed by the interested party or central government by the appellate board on the grounds provided in the Patent Act, 1970.