Making It Trips Way - India’s New Patent Regime

Patent is a monopoly or exclusive right granted by State in favour of an inventor in respect of an invention. It is granted to the person who is entitled for it and who fulfills the prescribed conditions imposed by state for such grant. It may also be described as an official document which gives the patentee right of ownership of an invention.

The fundamental object behind the Patent Law is to encourage scientific research, new technology and industrial progress. The price of the grant of the monopoly is the disclosure of the invention at the Patent Office, which after the expiry of period of monopoly, passes into public domain. A patent is granted only to those inventions that are novel, having an inventive step and industrial applicability.