Don’t go by there name petty as petty patents are useful and appropriate for an incremental invention or innovations. Petty patents are one form of intellectual property rights. Play big role in boosting the economy and promoting the innovations and minor inventions. Any business can reap the benefits in form of the complementary to the invention especially where invention lacks patentability but involves low inventiveness and improvements. Petty Patents can be boon to start ups and small business who is usually looking for budget friendly, swift registration and less formalities.
What is Petty Patent?
Petty patent is a patent like intellectual property right to protect inventions. It is an exclusive right granted for an invention, which allows the right holder to prevent others from commercially using the protected invention without his authorization for a limited period of time. These petty patents are also known as utility model, utility patents, innovation patents, small patents, minor patents, short term patents and so on.
What are the Key Features of Petty Patents?
A petty patent may be granted to inventor/discoverer who invents new & useful processor useful improvement but which usually disqualifies to be patentable invention or innovation.
- Petty patents, rights granted to it are similar to patent grants but the period of protection is shorter in comparison with patents.
- Petty patents are cheaper to maintain and easy to obtain
- Petty patents are more to appropriate for an incremental invention.
- Petty patents provide exclusive protection rights to the holder
- Petty patents grant depends upon the novelty but the standards of novelty are different in a different jurisdiction & countries
- Petty Patents grant needs non-obviousness and inventive step but the standards are much lower in comparison with patents and also differ in different countries.
- Petty Patents protection term is usually varying from 6-15 years and differs from country to contrary and does not provide longer protection like patent which grants 20 years protection.
- Petty Patents registration time is lesser compared to patents as mostly does not involve the step of prior examination before grant.
When Petty Patents are advisable? Petty Patents can be advised for the below:
- Inventions with low inventiveness
- Inventions with minor improvements
- Inventions which are incremental in nature
- When innovator/ discoverer needs swift registrationas patent registration takes more time.
- When innovator/ discoverer wants economic option and budget is less as patenting cost is more
What can be the role of Petty Patents in the Developing Economy like India? Currently in India there is not provisions for the petty patents and petty patents are not recognised thereby no petty patents in India. But right similar to patents in form of petty patents are granted in many countries like United Kingdom, Canada, USA, Brazil, China, Greece, Georgia, Italy, Japan, Korea, Kuwait and many others.
India is growing and lot of govt initiatives like MAKE IN INDIA and AATMNIRBHAR BHARAT ABHIYAN are steps to boost the Indian economy. Role of startup and small businesses in Indian economy is indispensable as these not only creates more jobs, but also stir innovation and competition thereby contribute dynamism in the economy. Helps in overall growth of the economy and paves the Indian economy transformation acceleration. Startups and small businesses are unstoppable economic powerhouses to Indian economy and biggest opportunities to tap and reap the benefits.
For these economic power houses petty patents will definitely act as boon considering its enormous advantages. Usually small businesses and startups fail to protect their inventions or innovations due financial and time constraints and loose opportunity of business growth which may lead to sustain and survival issues in this competitive world.Shorter period of protection and easier and cheaper procedures to obtain and maintain protection are more favorable for supporting local or minor innovations by startups and small companies. Petty patents can accord this form of easy & cheaper protection.
Petty patents have long way to protect and safeguard the innovations and low inventions of small businesses and startups even MSMEs in the Indian economy. Petty patents can further act as an encouragement to the small businesses, startups or MSMEs under the Indian govt initiatives of MAKE IN INDIA and AATMNIRBHAR BHARAT ABHIYAN.
The only option for Indian starts and small businesses who intends to protect their low inventions and improvements is in the countries wherever it is allowed like United Kingdom, Canada, USAand many others but not in India.
Key Takeaways and Suggestions
It is need of the hour for India to recognize the petty patents and provide the provision for it considering its numerous benefits.Petty patent protection can benefit small businesses, startups and MSMEs since they lack funds for conducting tests & trials and paying hefty patent fees.Petty Patents as supplementary or complementary to invention patentsalso huge to contribute because petty patents can also strategically play big role to boost the economy and ecology.
All in all, petty patent is also one of most important type of intellectual property rights like patent. Role of intellectual property rights needs no introduction and further emphasis including petty patents. This digital era is embracing knowledge economyled growth and India can’t afford to be an exception.
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