The term of every patent in India is 20 years from the date of filing.
A Patent is an exclusive monopoly rights granted by the Government to an inventor over his invention for a limited period of time. Patent is recognition to the form of intellectual property manifested in invention.
The basic reason for patenting an invention is to make money through exclusivity i.e. the inventor or his assignee would have a monopoly if
- The inventor has made an important invention after taking into account the modifications that the customer, and
- If his patent agent has described and claimed the invention correctly in the patent specification he drafted, then the resultant patent would give the patent owner an exclusive market.
Patent rights are territorial in nature. A patent granted in India will protect that innovation only in the territory of India.Similarly a US patent will protect the innovation only in US. If we want our innovation to get protected in US, we have to apply for US patent separately