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Business wiki · Contracts and intellectual property

Patent

A statutory right granted for an invention that meets the applicable patentability requirements.

Search terms: Invention intellectual property

A business example

An engineering team develops a new dispensing mechanism and plans to demonstrate it at a trade fair.

Follow the exampleFictional business scenario
  1. Technical concept

    Record how the mechanism works and who contributed to it.

  2. Prior work and disclosure

    Assess relevant existing technology and what has already been made public.

  3. Protection decision

    Consider patentability and filing strategy before the planned disclosure.

What this shows

A promising invention needs a technical and legal assessment. Branding the product or keeping design files does not create a granted patent.

What it is often confused with

A patent protects an eligible invention; it is not the same protection as a trademark for a brand.

What to look at in your business

Record inventorship, ownership and disclosure history and seek a patentability assessment.

Context and further reading

IP India: intellectual property information brochure. This reference supports the terminology; use the linked guide for applicability and operative requirements.

Commercial legal and IP →

Related terms

Trademark

A sign used to distinguish one business's goods or services from those of others.

Copyright

Rights associated with protected expression such as literary, artistic and software works under copyright law.

NDA

A contract restricting how specified confidential information may be used and disclosed.