Glossary · Intellectual Property
Patent
An exclusive right granted for an invention, providing the owner the right to exclude others from making, using, selling, or importing the patented invention for a limited period.
Patents in India are governed by the Patents Act, 1970 and granted by the Indian Patent Office. To be patentable, an invention must be novel, involve an inventive step, and be capable of industrial application. The term is 20 years from the filing date. Computer programs per se, business methods, and discoveries are not patentable. For pharmaceutical patents, the Indian regime includes compulsory licensing provisions to keep drugs affordable.
Examples
A pharmaceutical company obtains a 20-year patent for a novel molecule, restricting other manufacturers from producing the same drug without a license.