This might seem to be quite a simplistic title, but it’s a very frequently-asked question, and can mean one of a number of different things, depending on the context.
In some cases, it might mean ‘What can a patent do for our business?’. In other cases, it might mean ‘What is the process for getting a patent?’. In yet other contexts, it might mean ‘How can a patent be used to stop others from doing something?’ And each of these questions refers to a different aspect of the patent system as a whole. So, in this blog, we explore the question, how do patents work?
What can a patent do for your business?
The answer to this is , again contextual, but the main answers include:
- it will allow you to stop others from doing something covered by your patent, i.e. it helps to protect your innovation;
- it can help your business to secure funding by, for example, reassuring investors, or even offering security for business borrowing;
- it can add value to your business – it is an asset like any other;
- it can help your business to save tax through the government’s Patent Box Scheme
What is the process for getting a patent?
The process starts by filing a patent application, including a patent specification, which is a complete description of an embodiment of the invention together with a set of legal statements, known as “claims”, which define the scope of protection you’re trying to achieve. Once a patent application has been filed, you have what is colloquially known as “patent pending” status, BUT it is important that the patent application is filed before there is any non confidential disclosure of the invention.
Once the patent application has been filed, it goes through a defined process wg=hich, in the UK, takes around 3 years.
Once the patent is granted, it will usually last for 20 years from the date of filing the application, provided prescribed renewal fees are paid.
How can a patent be used to stop others from doing something?
The ultimate sanction for a third party infringing your patent would be to take them to court. However, you cannot do that unless or until your patent has actually been granted.
That said, even if you do have a granted patent, any alleged infringement would normally be dealt with initially by a series of pre-court pieces of correspondence, essentially with a view to settling the matter without the need to issue court proceedings. And this correspondence can be entered into before your patent is granted, which means that, hopefully, you can achieve an acceptable settlement at the earliest possible juncture.
Also, if you have a granted patent, you can make use of a country’s customs registration process, which effectively allows you to use Border Force to stop consignments of allegedly infringing goods at source, rather than having to wait for them to enter the open market.
Need help?
We hope you have found this summary useful. If you need help to work out where your most valuable IP is, and how to protect it, or if you have any other IP questions, we are happy to offer a confidential initial consultation, which is free of charge and obligation. Please book your free initial consultation by clicking the link below:
https://calendly.com/strachan-ip-a-fresh-view-of-intellectual-property/30min
or by calling 07714 797135 or emailing vicki.strachan@strachanip.co.uk
or you can contact us through our website: https://strachanip.co.uk/contact/
