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A patent is an exclusive right or monopoly granted to an inventor or their assignee for a limited period of time, in exchange for the public disclosure of the invention. This monopoly gives you the right to exclude others from making, selling, using or importing the invention covered in the patent. An invention is a solution to a specific technological problem, which relates to the function of a device or machine, or to the process for making a product or to the method for carrying out business.
Why are Patents important?
An exclusive right provided by a patent enables the patent owner to recoup development costs and obtain a return of investment in the development of the patented technology. It is also important to protect your ability to do business. If you don’t patent your invention, someone will copy it and enter the market with your product. The exclusive right also allows you to license the rights to use your patent technology.
Effective patent protection stimulates research and is a key requirement for raising venture capital. It is also crucial to overall economic growth.
Types of Patents
There are two main types of patent granted in Australia – standard patents and innovation patents. There are a number of differences between the two patent types. These range from the cost of the patents, the length of protection they offer, the time they take to process and the type of invention they seek to cover. You can also review more detailed information about Patent Registration here, or learn more about international patent protection here.
Patents are an extremely important aspect to your overall IP protection strategy, and we are not going to bore you with all the registration requirements, process etc here, but as you can appreciate, it requires exceptional skill and experience to draft and file a patent appropriately to obtain maximum protection. We do not recommend anyone file their own patent unless they are very experienced in doing so. We have all the technical training to make this very complex process easy for you…so let our Patent Attorneys assist you.
Raven IP’s dedicated patents department can erase any confusion in this area by guiding you through the patent process each and every step of the way. Our attorneys give the tailored service that our clients expect, continuing our client centered approach throughout the whole service that we provide. We believe that none of our clients will be better served elsewhere, but don’t just take our word for it, review some of our client’s testimonials here.
Remember, it is vital that you contact us early to discuss your options through our obligation free consultation.