What’s The Process To Patent A Concept In India

In India, How Does One Go About Patent A Concept?

A patent is a government-granted exclusive right that allows the creator to prevent others from using, selling, offering for sale, or importing the patented invention for a period of 20 years from the date of filing.

Because patent law’s principal objective is to encourage inventors to contribute more to their disciplines by granting them exclusive rights to their ideas.

Importance Of Patent

Patents still are the foremost significant asset for firms and individuals in numerous cases of successfully protecting property rights. A well-protected invention with a patent may be a game-changer for an organization.

A granted patent gives you the correct to forestall others from making, using, selling, offering purchasable, or importing your patented invention without your permission for a period of 20 years from the date of filing, which provides significant benefits to the patent applicant (individual inventors or companies)

In India, Who Can File Patent Application

Any of the following individuals, acting alone or in collaboration with others, can file a patent application:

- The original and true inventor

- The assignee of the true and first inventor

- His or her assignee is the representative of the deceased true and first inventor.

Any natural person, firm, association, body of individuals, or government body, whether incorporated or not, is considered a “person” under the Patent Act.

Patent law is also complicated; a patent is a techno-legal document, and filing a patent application is a time-consuming process that is not comparable to drafting a project report or a project thesis. As a result, the government provides patent agents or patent attorneys to assist innovators with the difficult work of writing patents.

What is the process for registering a patent in India?

Step 1: Describe The Invention (Idea Or Concept) As Thoroughly As Possible.

As an investor, your role at this step is to write down as many details about your idea as possible.

Step 2: Determine Whether Or Not Your Invention Is Innovative (Novelty Search)

We must determine whether your invention is innovative (newness) in this step, as this is one of the patentability criteria in India. When we compare our invention to existing prior arts, we need at least certain aspects of it to be innovative. By conducting a thorough search and study of all aspects of our invention, we will be able to determine whether there are any 100% overlapping prior arts.

Furthermore, the aspects of our invention that are discovered to be unique following a novelty search can be used for informed patent application drafting (since we now know what is innovative and what isn’t), which can aid in obtaining a patent. The search report also contains the user’s judgment on novelty, which might be positive, negative, or neutral. This opinion can be used to determine whether or not to file a patent.

Cost: A patent attorney’s professional costs for conducting a novelty search range from RS. 12,000 to RS. 15,000 in India.

Time: 5-7 business days

Step 3: Writing Patent Application

The most important component of the procedure is patent drafting/writing, which could be a specialized job. To be ready to create a competitive application, it takes years of skill and familiarity with jurisprudence, knowledge of the topic of invention, and awareness of case laws. Simply read a number of your domain’s awarded patents to urge a concept. Because a patent could be a techno-legal document, it’s critical to understand both the technical and legal aspects at an identical time. An application shouldn’t be written as a thesis or a project report by you (the inventor) (which may get objected to during the examination stage)

Cost: the professional fees for a patent attorney ranges from Rs. 25,000 to Rs. 40,000 for patent drafting or writing.

Time: the time required is about 8-15 working days

Step 4: Filing Patent Application

When you (the inventor) prepare and review a patent, it is submitted to the government patent office, and a receipt with the patent application number is generated.

Patent Application Types Include:

As briefly mentioned below, there are several sorts of patent applications that can be submitted to the patent office:

- Application on a temporary basis

- Application (completed or non-provisional)

- Application for a convention

- PCT is an international patent application

- National PCT application

- Application for a division

Step 5: Publication Of The Application

Upon filing the whole specification together with the appliance for a patent, the appliance is published after 18 months of first filing. but, If you don’t want to attend till the expiry of 18 months, An early publication request may be made together with the prescribed fees. Generally, the application is published within one month from the request form’s early publication. Rule 24.

the amount that an application for a patent shall not ordinarily be hospitable to the general public under sub-section (1) of section 11A shall be eighteen months from the date of filing of the apply or the date of priority of the appliance, whichever is earlier. as long as the time limit for the Controller to publish the application in the journal is normally one month from the date of the period’s expiration, or one month from the date of the rule 24A request for publication.

Request for publication (Rule 24 A).— Form 9 is used to make a request for publication under section 11A, subsection (2). Form 9 and the necessary fees will be accustomed to making an early publication request (optional step).

Anyone can object to the grant of a patent after it’s been published. this can be called a pre-grant objection. someone may, in writing, represent to the Controller against the difficulty of a patent on the explanations listed in Sections 25(1)(a) to (d) of the Patents Act 1970, where A patent application has been published, but no patent has been issued.

Step 6: Submit An Examination Request

After receiving a request for participation in an examination (RFE), the application is just being reviewed. When the controller gets this request, he or she assigns your application to a patent examiner,

who examines it for patentability using many criteria, including Is the definition of patentable subject matter the innovation? Is there anything unique about it? Is there a unique or non-obvious way to start it? Is it suitable for use in a manufacturing environment? After analyzing the application for the terms listed above, the examiner generates a primary examination report. This is referred to as FER (First examination report). Patent prosecution refers to all of the steps involved in preparing an application for a patent before it is granted.

On any of the subsequent grounds, an applicant may submit asking for accelerated examination in Form 18A along with the fee:

- In the corresponding international application, India has been designated because the competent International Searching Authority or elected as a global Preliminary Examining Authority; or

- That the applicant may be a new business

- Your application includes a lady as an applicant or co-applicant.

Step 7: Address Objections

The overwhelming majority of patent applicants will face objections, which is able to be noted within the first examination report (also referred to as FER). With the assistance of a patent attorney (patent agent), you ought to examine and comprehend the examination report and write a written response to the objections expressed within the report.

This is a chance for an inventor to precise the novelty of his or her invention as compared to previous art discovered within the examination report. The inventor and patent agent write and transmit an examination answer that aims to steer the controller that his invention is patentable and meets all patentability criteria. If necessary, physical hearing or video conferencing can be ordered.

Step 8: A Patent Is Granted

Once it is determined that the patent application meets all patentability conditions, it will be placed in order for a grant. The patent is granted and published in the patent journal on a regular basis. (Any individual who is interested in the awarded invention can file a post-grant opposition request within 12 months of the granted patent’s publication date).

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INVEST MP Expression of Interest (EOI) For Inviting Online Tender…

Income Tax Slabs	Tax Rate	Wellbeing and Education Cess
Upto Rs. 2.5 Lakh	Nil	Nil
Rs.2,50,001 to Rs.5 lakh*	50%	4% of Income Tax
Rs.5,00,001 to Rs.10 lakh	20%	4% of Income Tax
Above Rs.10 lakh	30%	4% of Income Tax

Income Tax Slab	Tax Rate	Wellbeing and Education Cess
Upto Rs. 3 lakh	Nil	Nil
Rs.3,00,001 to Rs.5 lakh	5%	4% of Income Tax
Rs.5,00,001 to Rs.10 lakh	20%	4% of Income Tax
Above Rs.10 lakh	30%	4% of Income Tax

Income Tax Slab	Tax Rate	Well-being and Education Cess
Up to Rs. 5 lakh	Nil	Nil
Rs.5,00,001 to Rs.10 lakh	20%	4% of Income Tax
Above Rs.10 lakh	30%	4% of Income Tax

Basis	Succession Certificate	Legal Heir Certificate
Purpose	A succession certificate is essential for the legal heir to acquire movable or immovable property in their name. The document also results in the transfer of debts to the deceased’s heirs. A certificate also ensures creditors’ security for payments from lawful successors.	A certificate is required to claim benefits such as provident fund, pension, power bill connection, or other benefits that the dead were entitled to at the time of their death.
Eligibility	Only heirs (children or grandchildren) can apply to the competent court for a succession certificate.	Can only be received by the deceased’s lawful heirs, which include the deceased’s parents, spouse, children, or siblings.
Authorization to Issue	District court or a competent court close to the deceased’s residence.	Municipality / Administrative Officer / District Revenue officer
Conclusive Proof of Immovable Property Legal Heirship	Yes, according to the Indian Succession Act of 1925.	No
Period of Allotment	It may take one or two months for allotment because the certificate must be published in a newspaper daily for opposition for a specified period.	Usually, allotments are made within 10 to 15 days.
Subsidiary Document	A court-issued document that cannot be ignored in any immovable property transfer or succession.	In property transfers, asserting legal heirship is used as a secondary document.

Factor	OPC	Sole Proprietorship
Distinction in ownership	Owner & business are considered as 2 separate entities	Owner & business is defined as a single entity
Liability	Limited to his/her investment	Unlimited liability
Taxation	Registered as a Private limited company & hence taxed under Income Tax Act for Private companies	Treated as owner’s individual income
Members	Only 1 member or shareholder	Only 1 proprietor
Profit/Loss	Profit/Loss belongs to the single-member	Profit/Loss to the single proprietor
Management	Easy to manage	Easy to manage

Category of Taxpayer	Due Date FY 2020-21 for Tax Filing
Individual/Hindu Undivided Family/AOP/BOI (no auditing required)	31st July 2021
Businesses that require auditing	31st October 2021
Businesses that require TP Report	30th November 2021

Taxable Income Range (in ₹)	Tax Before 2020 (Existing)	Tax Post Budget 2020
Up to 2.5 lakhs	Exempted	Exempted
Between 2.5 and 5 lakhs	5%	5%
Between 5 and 7.5 lakhs	20%	10%
Between 7.5 and 10 lakhs	20%	15%
Between 10 and 12.5 lakhs	30%	20%
Between 12.5 and 15 lakhs	30%	30%
Above 15 lakhs	30%	30%

Title	Pvt Ltd Co.	OPC	LLP
Income Tax Rate	30%	30%	30%
Surcharge	7% when total income exceeds INR 1 cr but less than INR 10 cr.12% when total income exceeds INR 10 cr.	7% when total income exceeds INR 1 cr but less than INR 10 cr.12% when total income exceeds INR 10 cr.	12% when total income exceeds INR 1 cr
Taxed as	Domestic Company	Domestic Company	Partnership Firm
salary	Director’s salary is allowed as an expense	Director’s salary is allowed as an expense	Partner’s salary allowed as deduction
Interest and Remuneration	is taxable income	is taxable income	Allowed as deduction
Loans	Loans to the directors are taxable when repaid	Loans to the director are taxable when repaid	Loans to the partners are not taxable when repaid
Tax burden	moderate	moderate	low
MAT	Applies	Applies	AMT applies
Distribution Dividend Tax	Applies	Applies	Does not apply

Blog

What’s The Process To Patent A Concept In India

In India, How Does One Go About Patent A Concept?

Importance Of Patent

In India, Who Can File Patent Application

What is the process for registering a patent in India?

Step 1: Describe The Invention (Idea Or Concept) As Thoroughly As Possible.

Step 2: Determine Whether Or Not Your Invention Is Innovative (Novelty Search)

Step 3: Writing Patent Application

Step 4: Filing Patent Application

Step 5: Publication Of The Application

Step 6: Submit An Examination Request

Step 7: Address Objections

Step 8: A Patent Is Granted

How Are Sole Proprietorship Business Taxed In India

Getting Sole Proprietorship

Advantages of Sole Proprietorship In India

Disadvantages of Sole Proprietorship in India

Sole proprietorship income tax calculation

Sole proprietorship charge rates for AY 2019-20 (FY 2018-19)

Difference Between Legal Heir Certificate And Succession Certificate

Succession Certificate

Difference Between Legal Heir Certificate And Succession Certificate:

Legal Heir Certificate

Frequently Asked Questions

One Person Company

Advantages Of One Person Company

Legal Status

Transferability Of Shares:

Easy To Obtain Funds

Fewer Compliances

Easy Incorporation

Easy To Manage

Perpetual Succession

Who can be a member of an OPC?

Who can’t form an OPC?

Can a person be a member of multiple OPCs?

Conclusion

What Happens If I Don’t File My ITR?

What are the dates for filing income tax?

Is it Compulsory to File Income Tax Returns?

What Happens If Individuals Fail to File Their ITRs?

Penalty

Reduced Time For Updating Your Income Tax Returns

Interest At The Tax Amount

No Carry Forward Of Losses

Delay In The Method of Return Of Income

What Are the Current Income Tax Rates for Taxpayers?

Rules changed because of COVID

NGO Darpan Registration- Process & Procedure

The function of NGO Darpan

Who can sign-up for the NGO Darpan

Documents required for NGO Darpan Registration online

NGO Darpan Registration Process

Things to remember about NGO Darpan enrollment

Benefits of Darpan registration.

How Many Days Does It Take to Get an Export License in India?

Steps to obtain an import/export license

IEC Online Application

Documentation for IEC Application

Proprietorship

Partnership

LLP and Company (both public and Pvt ltd)

Mandatory Compliances For A Private Limited Company In India

What are The Mandatory Compliances for Private Limited Company?

Compliance With Statutory Audits

Annual ROC Filings

Annual General Meeting

Board Meeting

Directors Report

Income Tax Compliances

Maintenance of Statutory Registers And Records

Event-Based Compliances

Examples of such events include:

Non-compliance

Benefits of Mandatory Annual Compliances:

Why Does A Private Limited Company Need To File ROC Compliance?

Conclusion:

Private Limited Vs. LLP Vs. OPC – Which One Is Right For You?

Features of Private Limited company:–