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The owner of the "Patent", i.e. patentee is entitled to deal with such property in the same manner as owner of any other moveable property.
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The patentee can sell the whole or part of this property (Patent).
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He can also grant license to other(s) to use the patented property.
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He can also assign such property to any other(s).
Such sale, license or assignment of such patented property naturally has to be for valuable consideration, acceptable mutually.
PERIOD OF PATENT
- In respect of process patents relating to drugs and food, the term is five years from the date of sealing the patents or seven years from the date of the patent whichever is shorter.
- In respect of all other patents the term is fourteen years from the date of the patent. A patent is kept alive only by paying the renewal fee from time to time
USE OF PATENTED INVENTION BY THE CENTRAL GOVERNMENT
The grant of patent confers the exclusive right of use on the patentee for commercial gain but the Act recognises that the Central Government may use any invention even without the payment of royalty to the inventor.
The idea is that the invention can be put to use for general public benefit by the government in certain circumstances when the patentee would have to forego his commercial gain in the general public interest.
SOME RESTRICTED USE OF PATENTED INVENTION PERMISSIBLE UNDER THE LAW
The essence of a patent is conferring of the exclusive right on the patentee. Yet some restricted use of a patented invention by a person other than the patentee is permissible under the law. For such instance, use of a patented invention is permissible for research or experimental purposes or for imparting knowledge or instructions to pupils. |
