Patent, merits and demerits of providing patent to a business firm | Requirement for Applying Patent Right

Patent is the exclusive legal right of ownership for making, producing or inventing new products or process for certain period of years in exchange for publishing an enabling public disclosure of the invention. Patent means any useful invention invented through a new method or process of the construction operation or publicity of any material or collection of materials or through any principle or formula. For getting patent, patent application form should be filled up disclosing to the public about the technical information of invention. 

Right Over the Patent

1. Any person, willing to have rights on any patent, has to register such patent under the Patent Design and Trademark Act.
2. Any patent registered in the name of any person shall not be copied, used or utilized without the patentee’s written consent.
3. Ownership of a patent can be transferred in any way to any person as movable property.
4. If any body does or attempt to do so or encourage to do any work against these rights or patentee may be punished with a fine by the order of Department and all the materials related with such offence shall be confiscated.

Requirement for Acquiring Patent Right

1. Person willing to patent registered in his own name shall have to apply to the Department with following information including all other evidence.
2. Name, address and profession of inventor.
3. In the case of the invention, not invented by the applicant himself, the conditions acquiring such right from investor by the applicant.
4. Method of operation or utilization of such invention.
5. Principle or formula, if such patent is based on any principle or formula.
6. Drawings and sketch of invention (if necessary).
7. Prescribed application fee as mention in schedule.

Unpatentable Invention

1. If it has already been registered in the name of other.
2. If the patent asked to be registered is not invented by the applicant himself and he has not acquired the right from the inventor.
3. If the patent asked to be registered the right from the inventor.
4. If the patent asked to be registered is found to cause adverse effect in health, conduct or morale or people in general or in the national interest.
5. If it violates any prevailing laws.

Examination of Patent Application

1. Department upon submission of a patent application examine the invention whether it is new or not, it is useful to the people in general or not.
2. If it deems necessary, Department takes the advice of experts of related field.
3. Basically, Department follows the principle of Novelty, Industrial applicability, and Inventive step to examine.

Certificates of Registration

1. If Department found the patent application is patentable after examination provides certificates to the applicant.
2. Applicant shall pay a registration fee as prescribed in schedule.

Opposition for Patent

1. If anybody has any complain upon any patent he may lodge such complain to the Department within thirty-five days from the date on which the patent is seen or a copy of such patent document is taken.
2. Upon receipt of complain, Department takes necessary action through an investigation.

Terms and Renewal of Patent

1. Patentee shall have his right on the patent for a period of seven years from the date of registration.
2. The patentee shall renew the patent within 35 days from date of expiry having paid the fee mention in schedule.
3. Renewal of a patent may be made for two times of seven years.

However, the system of patent right seems to be reliable for the context of innovation ad creation of new things, but in practical side, this right is only seemed in paper.

(Note: The above mentioned rules and regulations may be changed as per the geographical territory.)

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Public policy is useful to politicians and political parties | Utility of public policy in business decision making | Utility to administrative officials

The utility of public policy in different sectors / the utility of public policy in business decision-making / the utility of public policy is different for them which is analyzed as follows:

1) Utility to political parties and politicians

The political parties and politicians are directly or indirectly involve for the development of the nation. The state holders or leaders are the main agents for driving the nation. The knowledge of public policy is importance to the political parties and politicians because they may be in power and opposition. The politicians who are in power holders have to implement policies and modify the existing policies. They have to formulate appropriate policies and analysis to the effects of those policies. If the political parties or politicians are in opposition, they have to get knowledge about the public policy. The opposition leaders should have to suggest and give guidelines to the statesmen. The opposition political parties should also check and warn to the government whether the government goes according to rules and order or not. The knowledge of public policy gives appropriate guidelines to the statesmen and provides appropriate guidelines to the statesmen and provides appropriate ideas to the opposition leaders.

2) Utility to administrative officials

The knowledge of public policy is important to all the administrative officials such as senior level officials and junior officials. The policies are formulated by political leaders and executed by the administrative officials. The administrative officials need comparative knowledge about public policy because they are the means of implementation of the government policies. The existing policies should be effectively implemented according to the development objectives of the government for the development of economy. If the administrative officials do not have good knowledge about public policies, the policies may be used inappropriately and the results will be dissatisfactory.

3) Utility to general people

People are the safeguard to the government and they also make aware of the government. The government conducts various public welfare programs for the people and it promotes and regulates the business sectors. People pay different amount of payments in terms of tax, VAT and other expenses to the government. Various government activities adversely affect to the people. People should also know about the public policy whether they are properly lunched or not, whether the government activities are favor for the public welfare or not. It is also necessary to know the appropriateness of the government policies. Hence, the knowledge of public policy is important to the general people to warn and check the government.

4) Utility of public policy in business decision-making

Public policy affects the life of business like the life of an individual from cradle to grade. For example, a business firm should be registered in registrar’s office according to rule for the establishment (birth). After that license should be received from the concerned department (for example, department of industry) according to rule. Likewise, it should be registered in tax department etc. Similarly, even for the dissolution (death) of a business firm its owners should be according to the rule.

A business firm should make decision taking into consideration the existing political, economic and social environment. The profit-maximization or cost-minimization objective of such firm is remarkably affected by public policy. The business cannot breathe by ignoring public policy. Milton H. Spencer has rightly remarked, “For management, decision-making does not take place in an economic vacuum, but rather in a socio-political environment that must be recognized as a limiting factor in the process of adjusting to uncertainty.”

Since business decisions are affected by social, political environment sometime, it is not enough that decisions and plans being guided by economic theory. It is also necessary to modify in a different way than that.

The government on the one hand, imposes different types of tax and applies rules like grant, patent, antitrust policy, and price control to affect business activities. These policies of the government have great effect on output, pricing, profit rate, investment rate of the firm. From it, it is also obvious that the reaction of the profit-maximizing manager is different from revenue-maximizing manager.

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