Important Types of Patents and Their Features you Should Know About

Development of any new device, method, process, product, service or a piece of research which has commercial, economic, social or developmental benefits deserves a patent for protection.

A patent has a legal standing and it is enforceable by the court of law. You can commercially use your invention for the entire life of the patent which is typically 14 years. However, applying for a patent and getting it are two separate scenarios as your application will be scrutinized and rated against a lot of criteria. Once your invention is found suitable according to the set criteria you will be granted a patent on it. Generally there are two kinds of patents which are granted to applicants in Australia; innovation patents and standard patents.

All about standard patents

A standard patent lasts for up to 20 years and gives long term intellectual property and commercial protection to the patent applicant. The application of a standard patent takes a long time to be processed and the general length is usually 14 months from the day your application is first filed.

All about innovation patents

The innovation patent is a good fit for small and medium enterprises who want to score competitive points in the business stratosphere. Possession of an innovation patent means that the product or service in question has unique features or benefits which were not in existence before. A standard patent will protect the idea for a period of 8 years and the maximum time for processing is one month. However the major disadvantage of an innovation patent is that it won’t stop other parties from copying your invention.

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