Let’s take a quick look at steps that helps franchisors in protecting their brand’s patent rights to cement stronger position in the market.
As an expression intellectual property connotes a cluster of rights acquired by any person upon creations of his mind such as inventions, literary and artistic works, processes, designs and symbols, names and images used in commerce. The intent of any intellectual property system is to safeguard the rights of an inventor/ creator in the work of its cognition, inception and creation. Patent is one such right covered under the umbrella of intellectual property rights. In India, patent means the grant of some privilege or property by the Government to one or more persons and statutorily, a patent has been defined under the Patent Act, 1970 (“Patent Act”), as ‘a patent for any invention (i.e., a new product or process involving an inventive step and capable of industrial application) granted under the act’.