Nowadays, our society attaches much importance to the progress of intellectual property development and at the same time, the governments around the world also encourage research and development of technology and introduce their innovations to the world. A patent will grant an inventor or a research and development institution an exclusive right of use to the invention and the technology for a given period, and thus protect them from being infringed. The patent owner has the right to prohibit others from producing, using, selling or renting his/her patent.
What a Patent will do
- To grant an exclusive right of use to its owner for the protection of invention and innovative technology
- To encourage the research and development of new technologies and products
- To enhance an enterprise¡¯s competitiveness in the market
- To make earnings by giving authorization to agents or producers
- To increase a company¡¯s market value in an assessment or a valuation
Priority in Patent
Most countries provide rights of priority for the application of patents under their laws. An applicant may enjoy such right of priority for an invention or an utility model in a country for twelve months immediately from the date the same is applied in another country. Such right of priority is generally effective for six months for a Registration of design.