Intellectual Property And Patent Application: A Business Perspective

A total of 1.76 million patent applications were accepted by the United Nations World Intellectual Property Office in 2008, the highest number ever recorded throughout its 30-year history. This number saw a 4.5% fall last year, owing to the US and world economic recession. Although as the world economy expects recuperation in the next two years, WIPO sees a brand new surge in patent application filings coming. The countries that are among the top 5 to file patent applications remain to be US, Japan, Germany, Republic Of Korea, and the latest and most surprising entrant, China.

Astutely conscious of the current state of economy, many corporations providentially look for intellectual property security primarily by filing patent application. An invention is protected from being simulated by competitor parties in the inventor’s originating country and even across borders.

Not many discoverers know, that in patent application, timing is of the essence. An original invention can be stolen by the first to file the patent for that invention.

Having this in mind, patent applicants usually take the Patent Cooperation Treaty path for patent application filing. Through the PCT, an applicant procures a priority date for 30 months as he works the filing of the patent in his own nation and in the other 141 member countries of the PCT union where he decides to engage patent application as well.

Within the period of 30 months, the patent applicant is consorted security for his innovation in the PCT country members. This means, he is able to embargo ownership of the innovation over the period of 30 months while he is resolving in which PCT countries he would pursue patent application filing. This 30-month hold period is helpful. Besides this, the patent applicant only needs to pay a relatively low and one-time patent filing fee.

A patent applicant should ready the needful information as to the reach and state of local patent and intellectual property laws, as well as the elaboratenesses of patent and intellectual property legislation in the countries where he seeks to file application.

This foregoing info is an enabler in a sure-fire and successful patent application through the Patent Cooperation Treaty.

For more information on patents filing and assistance in patent application through the Patent Cooperation Treaty, talk to us today.

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