In order to remain competitive in business market, you need to follow the innovation. You need to do the innovation that is not introduced by your other competitors. That means you need to protect your innovative idea and you can do so by getting it patent. Patent allows you to gain the right of that service or product that you have introduced for certain period of time. In that certain time period no other makers are allowed to make the product or provide the same service as of you. Patents are always considered as a very important part for any company. Since it is very essential part, it is good for you to know about the calculation of patent also known as patent valuation.
How to get a patent?
Getting a patent is not easy. In order to get the patent you have to come up with an idea that should be unique and not be applied or used by anyone else. Generally, the patent is passed on three parameters that include processing method, machines and human made products.
When you apply for a patent then you should maintain the record of designing process and the steps that you followed during the process. In order to file the patent, you need to submit your design file and also processing fees. If your design is unique it gets passed by the organization or by the government.
Different types of patent
There are generally three types of patent such as
Plant patent – this patent is given to the person who has discovered or invented a new species of plant. This patent is granted by the government for at least 20 years that means in that period no one can sell or produce the plant rather than the person who discovered it.
Utility patent – this patent is granted to the person who has invented some kind of machine or software that is very useful for the others as well. In this, the person can also do some improvement on existing machines, if that improvement proves to be successful then they can also avail the benefit of this patent. This patent is also granted for 20 years.
Design patent – this patent protects the invention of any ornamental design, shape etc. In this patent, no improvement is able to qualify for the patent, that means if someone wants to enjoy the benefit of this patent then he or she should come up with some unique design and style. This patent lasts for around 14 years.