Recapitalization of Ideas in terms of Technology Patenting in BIG DATA

“One thing about life that's predictable, is that it is unpredictable”

A brilliant idea for an invention or business could spring into your head at any point in time. But in order to find success, your research and development has to meet modern standards. Ideas are not genuinely original.

As quoted by Mark Twain:-

“There is no such thing as a new idea. It is impossible. We simply take a lot of old ideas and put them into a sort of mental kaleidoscope. We give them a turn and they make new and curious combinations. We keep on turning and making new combinations indefinitely; but they are the same old pieces of colored glass that have been in use through all the ages.”

Patents can seem like more trouble than they're worth because the patent process in itself is a struggle. But simply because you don’t want to deal with the patent process, Your brilliant idea needn't fall by the wayside!

Integrating patents into your business plan, is one of the most overlooked elements of a successful business. It takes a lot of energy to run a business, If you have an idea for a product, service or business, beat the odds and use your passion and energy, to figure out how to make it profitable.

There are a number of myths associated with patenting a product or concept that may hold an individual from getting the most out of the concept. In order to see your way clear to filing a patent it is very important to break those myths.

Patent filing narrows down the counterparts and it makes it difficult to impress the investors.

A strong patent portfolio help in fuelling investments for emerging tech companies. Investors often look to see whether a budding company has protected its intellectual property when determining whether to invest or not. It is more likely that you will be taken seriously if you come to the table with excellent technical knowledge and a patent-pending for your idea that's been well-researched and profits projected, even if you don't have all the connections with the big players.

It is difficult to avoid infringement so It's better not to file a patent.

Many things can perform the same function. If you are filing a patent for a software for buying and selling properties, it is possible that you are infringing on a patent someone else took for a software that facilitates property transactions. That's why the claims section of the patent is so important. Claims have to be worded very carefully. Consult a patent lawyer so that you actually end up having more protection from infringement than you would have without a patent.

My idea is not that great and there is no competition out there for my business plan so why to spend money to patent it.

Never underestimate yourself. There is always competition out there. A competitor could steal the idea and put it to use themselves. Instead of letting other party go away with your great concept and make a fortune, you should protect your concept by filing a patent.

If the invention is "obvious to one skilled in the art," the patent won't be valid.

Patent law prohibits granting patents for inventions that are obvious to "one skilled in the art." Many new inventions are combinations of existing inventions. The specific wording of the claims in your patent is the key to patenting an idea that is already out there or "obvious."

If I need to change my business focus, then the money I invested in filing a patent will be wasted.

Licensing the right to make, use, or sell your product is usually the most profitable route for inventors. Even if you may not make money from a patent you can pursue licensing royalties. As patent holder, you retain ownership of the invention and earn royalty payments on future sales of the product.

Everyone who was a part of the meeting where the idea was conceptualized gets to put their name on the patent.

The inventor is the individual who has the concept of the invention, provided of course that there has been a reduction to practice. The company is the assignee-the person or legal entity that has actual ownership of the patent. The royalties from patent generally go to the company, not the employees who came up with the invention.

Prity is Chief Counsel at Mobiuz, Singapore which outrightly solves many of the >$500 Billion problems faced by the almost $1 Trillion Advertising Industry, especially Ad-Fraud, which has become the world's no. 2 criminal enterprise. Mobiuz is working hand-in-hand with the Singaporean government to bring impeccable services to the world of Advertising, Fintech, InsureTech, Payments, and many more, globally. Prity is also founder at Tech Corp International Strategist, India and law firm partner at Tech Corp Legal LLP.

Prity Khastgir is a techno-savvy patent attorney in India with 12 yrs++ of experience working with clients across the globe. Her areas of expertise are IP portfolio research, cross-border technology transactions, licensing agreements, product clearance, freedom-to-operate, patent infringement & invalidity analysis, research & opinions.

Currently, she helps startups to raise funds, assists foreign companies to find right business partners in India. She also assists enterprises to enter and find the right angels, and VCs in Malaysia, Singapore, US, UK, Japan and India.

Co-author: Aanchal Verma

TCIS Patent Services:

Patent Services in India

Patent Drafting| Protection of Inventive Concepts:

Preparation of Utility Patent Applications:

We at Tech Corp International Strategist provide drafting of patent applications (provisional/ non-provisional) specifically in life-sciences, food technology, automotive, image processing, communications technology, aerospace, computer-implemented inventions and software,  mechanical, electrical, electronics, wireless communication, and pharmaceutical sector.

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Our team of expert patent lawyers understand the technology in question and then categorize a patent portfolio of a company according to the needs of the client. We conduct a market analysis in terms of identifying active companies, their areas of technical expertise, and find the family of the patents filed in different jurisdictions. We find the main players in the field of a patent on the basis of commercial viability, infringement aspects, strengths and weaknesses, find the key parameters for future research and analyze licensing terms for a particular patent.

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