Understanding Patents

What is a patent?

A patent is a legally enforceable right for a device, substance, method or process. A successful patent application relies on a few criteria. For instance, the invention must be: -

1. new;
2. useful; and
3. inventive or innovative.

It is vital to protect your ideas and inventions as they are the basis for successful business’ and form a substantial business asset from which value can be derived.

A successful patent grant can provide exclusive commercial rights to the invention (i.e. a monopoly).

Depending on the types of invention, different types of patents may apply. The type of patent determines the duration of protection. For instance, a standard patent can last for up to 20 years, an innovation patent only lasts up to 8 years while a pharmaceutical patent can last up to 25 years.

When to patent your invention?

It is crucial to ensure the timing of the patent application is right for it to be successful. It is important to avoid demonstrating, selling or discussing the invention in public before a patent application is filed. If discussions are necessary between employers and business partners, it is advisable to incorporate a signed confidentiality agreement.

Why patent your invention?

A successful patent will: -

1. confer the right to the inventor to prohibit others from manufacturing, using and/or selling the invention in Australia without your consent or permission;
2. allow the inventor to take legal action against people who are using the invention without your consent or permission; and
3. allow the inventor license another party for manufacturing reasons on agreed terms.

If you require advice relating to patent application or if your application has been rejected or challenged, HandO Lawyers are here to help. We are now offering online services in both English and Chinese.

Simply book an online consultation with us via this link: https://straits-lawyers.square.site/product/online-consultation-/11?cs=true or email us at info@holawyers.com or call at 08 8410 9069 to arrange an appointment.

Straits Lawyers is evolving! With our recent growth and development, we have expanded and are excited to announce the launch of our new name HandO Lawyers. Stand by for the new age of legal representation brought to you by HandO!

Please note that this article does not constitute legal advice and HandO Lawyers will not be legally responsible for any actions you take based on this article.