A patent is a set of exclusive rights granted to the innovator to safeguard his interests for the upcoming 20 years or so, when no one else can copy the item or has to pay royalties to do so. The entire framework behind this was to guarantee the innovator gets monitory and first mover advantages for his research and development, to ensure people have incentives to do more research and new technologies keep coming in markets for the welfare of humanity. Little did the creator of patents law knew that it will be utilized to hinder the growth, create monopolies, used to backfire/compress or terminate competitors and as a medium to earn riches.

But, it has degraded to your level when a company can just discuss out new features and file Inventhelp Stories for the very same. The end result is many companies earning millions and millions not because they manufacture such quality products, simply because these people were the first to consider an idea. Today’s MNCs don’t shy away in extracting exorbitant amount in royalty fees, licensing fees, court claims and settlements. One particular cool product leads to use of a large number of old patents (with their licensing fees) and introduction of two dozen more patents. A patent is not said to be for how you will scroll content with an iPhone or the number of image processors within a single Kodak camera. Needless to say the patent could be for your part of hardware, the circuit or even the code written. But, if a person else will be able to produce similar or better output using their own code, hardware or circuits, that fails to make them prone to spend the money for other company.

Legal requirements firms, not understanding any nuances of technologies, blindly approves patents and creates a ground for patent wars.

Its unsurprising to sees the world’s largest and oldest manufacturer Nokia, fighting with new niche premium mobile manufacturer Apple within the patent wars. Nokia sued Apple over usage of signalling techniques, Apple fired back over the usage of scrollbars and Nokia again filed a whole new lawsuit against Apple’s iPad. The war just like the situation when Kodak sued Apple and Apple countersued Kodak.

This war is perfect for patents, but, it is really not as these companies are hindering innovation or were struggling to recover their research and development charges due to the other’s patent infringement. This war is entirely based upon greed, the greed top earn more and eat each other’s profit share. Finally, the two can do an away from court agreement, something much like, you scratch my back and I’ll scratch yours.

Maybe American companies can also gain knowledge from these MNCs and commence building a pile of patents. That way the big telecoms can just sit back and earn royalties. Poor Bharti Airtel, if Mr. Sunil Mittal had filed Inventhelp Wiki for caller tunes or missed call alert service, Airtel might have crossed all their barriers when it comes to growth and had been world’s largest telecom company. On the similar lines, if Infosys had patented its global delivery model, it could have easily axed the competing firms along with ruled the offshore IT business. Regardless of how ridiculously stupid the above ideas appear to be, the united states patent history is full of such applications and the majority of them are accepted too.

So, whenever we knew day one day we can not manufacture even board games without having to pay royalties, we might have patented a dice, which was used and discussed in India since the times during Mahabharata.

What’s urgently required is formation of a good panel which does a thorough investigation before approving patent and constantly reviews any approved patent. When the company filing the patent, don’t utilize it within next 3-five-years, the patent becomes null and void, if patent seems irrelevant after 3-five years then it ought to be discarded. The identical should be carried out in the event where the company filing patent has recovered all research and development expenses related to patent and all past unsuccessful trials and it has already made handsome profits with the same. If the patent filing company keeps licensing their patents to many other companies, the patent should expire much earlier than the 20 year span. Even if among the above rules are materialized, the patent market will be far more regulated and tznwus won’t be such high exploitation of the Inventhelp Inventions Store.

So, when RiceTec applied a patent for Basmati rice, the first question would have been that why they want to utilize the word Basmati, the premium American and Pakistani rice breed, that is most popular and expensive. An additional research might have revealed that their genetic breed has qualities of extra long length, width and fragrance which can be all associated with the traditional Basmati breed harvested near Himalayas. After such findings, they might have been interrogated on the use of brands ‘Texmati’ and ‘Kasmati’ (name sounding comparable to Basmati) labeled to deceive buyers. After the entire case was made, the business needs to have been compelled to stop selling any type of rice altogether.

But, none of the above action points will ever be utilized in a land where any corrupt company can lobby the government ruling the land and force them to add new injunctions in law or amend what the law states inside their favor.

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