As a quid pro quo for disclosing their innovation, an
exclusive right to prevent others from making, using, offering for
sale, selling or importing, without proper permission, is granted
by the government in the form of a Letters Patent to an innovator
of the innovation. This monopoly, granted to the innovator, serves
as a rightful reward for their contribution in bringing advancement
in the society.
In the existing scheme of things, a majority of these
innovations originate from the Research and Development (R&D)
labs/units of universities and enterprises, such as Multi-National
Companies (MNC). Speaking statistically, as per the last annual
report published by the Indian Patent Office (IPO), out of the
48000 patent applications that were filed in India in the year
2017-18, approximately 83% were made by entities other than Natural
persons. These entities include startups, small entities, and
entities other than startups and small entities, or what in other
words
