Ownership of the invention is another equally important reason why we need to file a patent application. In the Philippines, we follow the first-to-file rule. The first person to register the patent becomes the owner of it once it is approved, regardless of whether he is the real inventor. So copycats can be owners of the patent if they file it ahead of the real inventor.
With ownership of the invention, come the following pros: 1) protection from copycats; 2) proper attribution; and 3) profits from exploitation of the invention.
Protection of the invention from copycats is one great pro of filing a patent application. Once the application is filed, copycats are barred from filing an application of the same or substantially similar invention. Substantial similarity here refers to the same inventive step but only a few modifications on non-essential elements. After approval and registration of the invention, the inventor can properly label his products with the mark “Registered Patent” to serve as warning to all copycats that product imitation is prohibited.
Proper attribution of the invention is also another great pro of filing a patent application. Once the patent application is approved, the real inventor gets the recognition he properly deserves. He can claim creation of all the products produced from the invention. If proper attribution is not accorded him, he can sue the author of the violation.
Profits from the exploitation of the invention are among the enticing pros of filing a patent application. Once the patent application is approved, the inventor has the option of selling his invention for a huge sum or leasing it or exploiting his own invention to create various products. In whatever way the inventor decides to profit from his invention, it is certain that it will provide a good income opportunity.
Filing a patent application has a few cons though, namely: a) long waiting period; and b) tedious process.
Long waiting periods are commonplace in patent applications since the matter of proving the inventive step requires a relatively long period of examination. Further, oppositions by third parties can also delay the process. Once oppositions are filed, hearings, oral arguments and motions are inevitable. At times, applicants may encounter oppositors who employ delaying tactics to ensure a ruling favorable to them.
Oppositions do not only cause delays but make the process more tedious. The patent applicant needs to rebut every allegation in the opposition. He must prove that the allegations are without merit. Oppositions contesting the inventive step are usually the most complicated matter to rebut. The applicant needs to convince the examiner that his invention is indeed new and in case there are elements similar to an existing one, such merely pertain to the aesthetic or non-essential elements of the invention.
In sum, the pros of filing the patent application outweigh the cons. Our firm is glad to assist you in filing a patent application. You may call (+632) 310-10-20 for inquiries.