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FILING A PATENTIndividual name vs. Business

name

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Filing A Patent Filing a patent in the individual’s name or

in the business name, has always been a source of confusion.

The answer to this dilemma is never definitive.

You have to carefully weigh the alternatives before making the decision.

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What Factors Must be Considered?

There are four major considerations that determine the decision to file a patent application in an individual’s name or in the business name:

a) Costb) Investor’s Requirementc) Economyd) Patent Infringement

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Cost Cost is the foremost consideration for

most Patent applicants. They want to keep the patent filing cost at a minimum.

The cost for filing a patent application in India is way lower for an individual as compared to a company.

If cost is the sole consideration then it is better to file the patent application in the name of the individual

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Investor’s Requirement

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If your company is backed by investors then filing a patent application depends on their requirement

Usually, the inventors prefer patents to be in the name of the company, rather than in the name of an individual as this increases the credibility of the company.

Investor’s Requirement

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Economy

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A patent back by a company always has more credibility than a patent backed by an individual.

Therefore, a patent registered in a business name will draw more revenue than a patent registered in an individual’s name.

Economy

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Patent Infringement Suppose a patent is infringed upon, the

remedy for infringement entitles you to damages or an account for profits.

If the patent was owned by a company then the damages awarded will be much larger than what will be awarded for a patent owned by an individual.

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Answer If a company (not a startup) is

incorporated recently and it does not have a lot of finances, it is always better to register a patent in the individual’s name.

This has two advantages: first, the whole cost of registration will be less; second, the utility of the patent can be tested in the market before spending a lot of money on the registration.

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Registering a patent in the name of the business has the undeniable advantage of adding credibility to the patent.

The most economic option, therefore, is to first register the patent in the individual’s name and then after the company stabilizes in the market, transfer the patent (by way of assignment) to the company’s name.

Answer

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Intepat IP Services Private LimitedNo:8, 1st Floor, 15th Cross, 100 Feet Ring Road, JP Nagar 6th PhaseBangalore – 560078, India

Email: contact@intepat.com Web: www.intepat.com Tel: 080-42173649