• A Permanent patent application or complete specification contains a comprehensive description of the invention, the step-by-step method for producing it, and the inventor’s claims to secure his/her exclusive rights to the patented product or innovation. It is an authoritative document that grants the applicant the privilege or authority over a specific field of research, an invention, or other procedures.

• Therefore, the patent is the privilege granted to the “owner” of the invention, which can be anything from the product to the services it provides. A patent grants its owner the right to prohibit others from making, utilizing, importing, or selling the invention without permission.

• A filing for a permanent patent confirms that the patented invention is fully protected under the legal system of the country in which it is licenced, or under the applicable legislation. Permanent patent protection means the invention cannot be manufactured, utilised, distributed, or sold commercially without the owner’s permission. The right derived from the patent is enforced in court, which in most systems includes the right to halt patent infringement. In contrast, a court can declare a patent invalid if a third party successfully challenges it.

• A patent grants you the legal right to prevent others from copying, producing, or selling your invention without your permission. You receive protection for a limited period of time (exactly 20 years), allowing you to keep infringers and competitors at bay. Keeping infringers out of the equation is one of the most important advantages of patent registration.

• Alternately, you can licence the patent in exchange for royalties over a longer period of time. This can provide a sustainable revenue stream for your company. Some businesses operate under the same premise, i.e., gaining royalties from licenced patents, possibly in conjunction with a registered trademark and design. Among all the advantages of patent registration, this is by far the most productive.

• The granted patent permits the inventor to use the invention for any purpose for the duration of the patent’s validity, which is twenty years in India. Within this timeframe, no one besides the inventor may use, sell, or modify the invention without the inventor’s permission. In addition, the inventor has the exclusive right to utilise legal proceedings in the event of a dispute with the concerned parties.

• The patenting of a design, idea, or product can assist a business in limiting competition. For example, suppose there are two competitors, A and B. Both parties are engaged in the trade of comparable widgets. Company B, the inventor of the widget, applies for and is granted a patent for it. According to the law, Company A can compel Company B to cease production and sales of the product, thereby gaining a larger share of the market and eliminating the competition.

• If the owner has reason to believe that his invention may generate a higher return on investment through licencing, he/she may transfer some rights to a deserving individual willing to commercialise the invention. Thus, the inventor can consistently generate substantial revenue without incurring costs to initiate sales.

Enhances Market Presence
The patent law permits the inventor to disclose his or her invention to the public. With such readily available, the owner obtains an outstanding public reputation and enhances his existing portfolio. Additionally, this can help build the inventor's reputation in the target market. All of these factors would increase sales figures.

Allows for Public Disclosure
Patent rights allow the inventor to choose public disclosure to increase the company's capital, market value, and business partners. Sharing the technical aspects of an invention publicly will demonstrate the inventor's mastery and expertise in the relevant technical field. It will assist the proprietor in luring investors, business partners, stakeholders, and end-users.

• Application for a patent in Form 1 with evidence from the inventor of their legal right to do so. An endorsement at the end of the application or a separate agreement attached to the patent application can serve as proof of right.

• If complete specifications are not available, provisional specifications.

• Within a year of the provisional specification’s filing, complete the specification in Form-2.

• Statement and undertaking in Form 3 pursuant to Section 8, as appropriate. In addition to the application, Form 3 must be submitted within six months of the application date.

• For applications with a complete specification, a convention application, or a PCT application designating India, the declaration of inventorship in Form 5 is required.

• If a request is made to the Controller in Form-4, Form-5, or a Declaration as to Inventorship, may be filed within one month of the date the application was filed.

• If a patent application is being filed by a Patent Agent, the power of attorney is in Form-26. If there is a general power of authority, the patent agent or patent attorney may file a self-attested copy of it.