We often heard of the Application patent protection, now think of the need of patent protection. Now a day a revolution is going on throughout the world for a new start up, application building, web portal etc. Let us discuss some valuable points related to patent protection.
If you are starting an economy venture, you need to patent your venture at the beginning because you need to provide security to the investors, who are interest to invest in your venture. Patent would provide them extra security and they can invest with a believe that their investment is at right place.
We have analyzed about doing patent and not to doing patent. Let us have a short brief:
Why we need patent:
- For the security of the investors and acquirers or shareholders.
- It will protect your assets.
- While you are having all the license, you should really patent your product.
- If you are selling your product outside (in other country), you should patent.
Why we do not patent:
- If your venture or product is for short period you should not patent.
- If you are selling in own country, not to patent.
- It will save your capital cost.
- If you really not want to mess with legal things or copycat things.
Cost of patent protection:
- In USA average cost and time to file and grant a patent is up to 10 lakhs and takes 2-4 years respectively.
- In Singapore average cost and time to file and grant a patent is up to 8 lakhs and takes 4-7 years respectively.
- In India average cost and time to file and grant a patent is up to 5 lakhs and takes 5-7 years respectively.
- In Europe average cost and time to file and grant a patent is up to 6 lakhs and takes 3-5 years respectively.