Home       Top Rated       Submit Article     Advanced Search     FAQ       Contact Us       Lawyers in India       Law Forum     RSS Feeds     

Register your Copyright Online

We offer copyright registration right from your desktop click here for details.

Latest Articles | Articles 2014 | Articles 2013 | Articles 2012 | Articles 2011 | Articles 2010 | Articles 2009 | Articles 2008 | Articles 2007 | Articles 2006 | Articles 2000-05

Search On:Laws in IndiaLawyers Search

Mutual Consent Divorce in Delhi
We provide fast, cost effective and Hassle free solution.
Contact us at Ph no: 9650499965 (Divorce Law Firm Delhi)
File Caveat in Supreme Court
Contact Ph no: +9650499965

Main Categories
 Accident Law
 Animal Laws
 Aviation Law
 Bangladesh Law
 Banking and Finance laws
 Case Laws
 Civil Laws
 Company Law
 Constitutional Law
 Consumer laws
 Contracts laws
 Criminal law
 Drug laws
 Dubai laws
 Educational laws
 Employment / Labour laws
 Environmental Law
 family law
 Gay laws and Third Gender
 Human Rights laws
 Immigration laws
 Insurance / Accident Claim
 Intellectual Property
 International Law
 Juvenile Laws
 Law - lawyers & legal Profession
 Legal Aid and Lok Adalat
 Legal outsourcing
 Media laws
 Medico legal
 Pakistan laws
 Real estate laws
 Right To Information
 Tax Laws
 Torts Law
 Woman Issues
 Workplace Equality & Non-Discrimination
 Yet Another Category

More Options
 Most read articles
 Most rated articles

Subscribe now and receive free articles and updates instantly.


Published : September 24, 2016 | Author : chetan sharma
Category : Intellectual Property | Total Views : 1584 | Rating :

chetan sharma
chetan sharma Ph no: 9718676396

Significance of Patent for technological companies and impact on their financial documents

Significance of Patents

# Meaning and characteristics of Patents
# Objective of Patent Act
# Inventions not patentable
# India signed international treaties and their benefits
# Types of patent applications
# Procedure of filing patent application in India and at International level
# Top 10 companies with maximum number of patents in the field of technology and impact of obtaining patent in their financial documents
# Profit in the financial documents of the companies after obtaining patents.
# Challenges for obtaining patents
# Significance of obtaining the patents

Meaning of Patent And Its Characteristics

Definition - “Patent" means a patent for any invention granted under the Indian Patent Act 1970;

Meaning of Invention
“Invention” means a new product or process involving an inventive step and capable of industrial application.

Basic ingredients of product to be Patented
A. Novelty – The patent should be an invention.
B. Useful – Capable of industrial application.
C. Non Obvious – The invention is not capable to be thought by the prudent mind.

Laws dealing with Patents in India
Indian Patent Act 1970 as amended till date.
Patent Rules as amended till date.

Patent in granted by the Indian Patent Office which is administered by Controller General of Patents, Designs & Trade Marks (CGPDTM). Indian Patent Office functions from four locations only viz. Kolkata, Delhi, Chennai and Mumbai.

Objective And Salient Features Of Indian Patent Act

Invention must fall into any of the statuary classes:-
1. Processes
2. Machines
3. Manufactures
4. Composition of matters and
5. New uses of any of the above
# Both product and process patent provided.
# Term – 20 years.
# Examination on request.
# Both pre-grant and post grant opposition.
# Publication of application after 18 months with facility of early publication provided.
# Substantially reduced time lines.

Inventions Not Patentable

1. An invention which is frivolous or which claims anything obviously contrary to whole established natural laws.
2. An invention the primary or intended use or commercial exploitation of which could be contrary to public.
3. The mere discovery of a scientific principle or the formulation of an abstract theory.
4. The mere discovery of any new property or new use for known substance or of the mere use of known process, machine or apparatus unless such known process result in a new product or employ one new reactant.
5. A substance obtained from mere admixture resulting into aggregation of properties.
6. Mere arrangement or re-arrangement or duplication of known devices each functioning independently.
7. A method of agriculture or horticulture.
8. Any process for the medicinal, surgical, curative, prophylactic or other treatment of human beings or animals.
9. Plants and animals in whole or any part in whole or any part thereof other than micro organism but including seeds, varieties and species and essentially biological processes for production or propagation of plants and animals.
10. A computer programme per se other than its technical application to industry or combination with hardware
11. A mathematical method or business method or algorithms.
12. A literary, dramatic, musical or artistic work or any other aesthetic creation whatsoever including cinematographic works and television productions.
13. A mere scheme or rule or method of performing mental act or method of playing game.
14. A presentation of information.
15. Topography of integrated circuits.
16. An invention which, in effect is traditional knowledge or which is an aggregation or duplication of known properties of traditionally known component or components.
17. Invention relating to atomic energy.


India Acceded/Signed Following Patent Treaties:-

1. Patent Co-operation Treaty
2. Paris Convention
3. Budapest Treaty
4. TRIPS Convention (full form of trips to be added)

Benefits of Signing Treaties

1. Unification of laws around the world.
2. Benefit of obtaining patent in any of the contracting states. irrespective of nationality.
3. Spreading awareness of IPR and its issues around the world.
4. Increase Foreign Direct Investment (FD) from developed countries.
5. Protection of rights around the world.
6. Contribution to national economy.
7. Promotes research and development.

National And International Applications For Grant Of Patent In India

1. Ordinary Application, i.e., an Application which has been filed directly in the Indian Patent Office.
2. Convention Application
3. PCT Application
4. Divisional Application, which can result from division of a Patent Application.
5. Patent of Addition, which may be filed subsequent to the Filing of an Application for Patent, for an improvement or modification.

Filing of A Patent Application – Points To Remember

A patent application shall be filed on Form-1 along with Provisional /Complete Specification, with the prescribed fee as given in First Schedule at an appropriate office.
Patent Application can be filed directly any of the Contracting States.

However, a provisional specification cannot be filed in case of a Convention Application.

Normal fee shall be applicable for applications containing upto thirty pages in specification and upto 10 claims. If the specification exceeds thirty pages or claims are more than ten in number, additional fee as given in First Schedule is payable.


Stages to Be Followed In Obtaining Patent In India

Filing of application provisional and complete

* If P.S. is filed C.S. to be filed within 12 months
* Promptly after 18 months from P.D.
* Within 48 months from F.D.

Publication of application

Request for examination

Examination - Issue of final examination report

3rd Party Representation

all objections to be complied within 12 months



File local application


File PCT application


International Search
Report and opinion


International publication


File demand on international preliminary examination (Optional)


International preliminary report on patentability (Optional)


Enter national phase

Ranking of the top 10 technology companies with the most international patent applications in 2015 and highest market share in the industry after obtaining Patents

S.No. Name of the Companies Number of Patents
1 IBM 7355
2 SAMSUNG 5072
3 CANON 4134
5 GOOGLE 2835
6 TOSHIBA 2627
7 SONY 2455
9 INTEL 2048

Value of Patent/Trademark Impacting In Millions in The Financial Documents of the Companies

S.NO Name of the Company 2015 2014
1. IBM ($) 335 374
2. CANON (¥) 39,685 22,371
3. QUALCOMM (Intangible Assets Value in $) 4068  
4. GOOGLE ($)  6510 6547
5. TOSHIBA (Intangible Assets Valuein ¥) 98891 95054
7. INTEL (I.A. Value in ($)) 3993  
8. MICROSOFT (Intangible AssetsValue in ($) ) 6187 6440

Profit After Tax of The Companies (Income In Million)

S.No Name of the Company 2015 2014 2013
1.  IBM ($) 13190 12022 16483
2. CANON (¥) 231,333 265,239 239,516
3. QUALCOMM ($) 5268 7964 6845

Current Challenges In Obtaining Patent In India
# Obtaining Patent at national or international level is expensive.
# Always needs a specialist or Patent Attorney.
# Long list of pending litigation.
# Lack of check on infringement.
# Minor improvements in product is not entitled for patent.
# Lack of infrastructure and personal for handling the patent applications at patent office.
# Huge pendency of patent applications.
# Lack of awareness and knowledge for obtaining patent in society.
# No government initiative to motivate people for innovation.
# Compulsory licensing.

Significance of Obtaining Patents
# Promote Research, development and innovation.
# Society and environmental development.
# Increase foreign direct investments.
# Built reputation in market and increase the confidence of investors.
# Unification of laws all over the world.
# Gives rights to prevent others from copying, selling, distribution and importing of goods.
# you can license your patent for others to use it, or sell it, as with any asset. This can provide an important source of revenue for your business. Indeed, some businesses exist solely to collect the royalties from a patent they have licensed.
# Solutions to the biggest challenges.
# Patent is a business asset.
# Right to sue on infringement.

The author can be reached at: advchetansharma@legalserviceindia.com

1 2 3 4 5
Rate this article!     Poor

Most viewed articles in Intellectual Property category
• Advertising
• Bajaj Auto Limited
• Trademark Infringement and Remedies
• Copyright Societies
• Passing off under trademark
• Plagiarism
• Infringement of trademark and what constitutes honest practice in relation to trade and bussiness
• Trade Mark Law in India & Its Violation
• Originality Under Copyright Law-Is There Any Definite Standard?
• Patenting of Micro-Organisms in India: An Overview
• Competition Law and Intellectual Property Rights: Confronting Paradigms
• Product Patent & Exclusive Marketing Rights
• Section 25 of The Trade Marks Act, 1999
• Indian Copyright Software
• Author's moral Right
• Competition Law vis-a-vis IPR rights
Most recent articles in Intellectual Property category
• John Locke’s Labour Theory: A Justification of IPRs
• Infringement of Patents
• Novelty under the Designs Act,2000
• Major changes brought about by the Trademark Rules,2017
• Semiconductor Integrated Circuit-Prevent Chip Pirates
• Semi conductor integrated circuit lay out design protection
• Patent for technological companies
• International Commercial Arbitration
• Trademark infringement and passing off Indian pharmaceutical industry
• Protecting Tradition And Culture In India Development of A Sui Generis System
• De Jure Mobile Applications under the IP Law
• Sports and IPR
• Protecting Tradition and Culture in India: Development of A Sui Generis System
• The Effectiveness of the Remedies for Copyright Infringement
• National IPR Policy 2016
• Trademark Law in Music and Film Industry

Article Comments

there are no comments...

Post Your Comments


Your comments

Note : Your email address is only visible to admin, other members / users cannot see it.

You can use following FXCodes

BOLD : [b]
Italic : [i]

[b] Legal Services India [/b] is a [i]nice website[/i].
[url= http://www.legalservicesindia.com/article/ ]click here to visit.[/url]

Legal Services India is a nice website.
Click here to visit


Note : Currently, user comments are moderated and will be posted only after approval.

Please login or register a new free account.

Random Pick
Women empowerment is empowering the women to take their own decisions for their personal dependent.

» Total Articles
» Total Authors
» Total Views
» Total categories

Law Forum

Legal Articles

Lawyers in India- Click on a link below for legal Services

lawyers in Chennai
lawyers in Bangalore
lawyers in Hyderabad
lawyers in Cochin
lawyers in Pondicherry
lawyers in Guwahati
lawyers in Nashik

lawyers in Jaipur
lawyers in New Delhi
lawyers in Dimapur
lawyers in Agra
Noida lawyers
lawyers in Siliguri

For Mutual consent Divorce in Delhi

Ph no: 9650499965
For online Copyright Registration

Ph no: 9891244487
Law Articles

lawyers in Delhi
lawyers in Chandigarh
lawyers in Allahabad
lawyers in Lucknow
lawyers in Jodhpur
Faridabad lawyers

lawyers in Mumbai
lawyers in Pune
lawyers in Nagpur
lawyers in Ahmedabad
lawyers in Surat
Ghaziabad lawyers

lawyers in Kolkata
lawyers in Janjgir
lawyers in Rajkot
lawyers in Indore
lawyers in Ludhiana
Gurgaon lawyers


India's Most Trusted Online law library
Legal Services India is Copyrighted under the Registrar of Copyright Act ( Govt of India) © 2000-2017
 ISBN No: 978-81-928510-1-3