Financial Trend Blog

This article will give you a breakdown of what a plant patent is.

The first type of patent is called a plant patent. It is usually given to people who have invented a new plant hybrid. It is also given when a new variety of plant has been discovered, and the person has successfully been able to reproduce it. Not every plant can be patented; for example, the Patent Office will not issue a patent for a tuberous plant. A plant patent is usually given for a duration of twenty years.

A patent is a very important part of the process of inventing. But there are certain aspects of this process that are a complete surprise to many inventors when they finally learn the reality of the patent process.

Submarine Fees:

One of these aspects is that there are ongoing patent fees “after” the application fees for the patent. I call these “submarine” fees because, like a surprise attack from a submarine, they unexpectedly start coming right on the heels of applying for a patent. Yes, when your patent finally gets approved - after an appeal or two - you get the privilege of paying a patent “issue” fee when the patent is granted.

Business method patents protect some very important things in your business.

Since the Supreme Court’s decision in 1998 to grant patents based on business methods, the Patent and Trademark Office has been inundated with applications of this type. There is currently a four-year wait for patent application approvals.

Before 1998, it was normally the assumption that a method of doing business could not be patented, and only a few property protections were in place. But in 1998, a landmark case between Signature Financial Group and State Street Bank and Trust, handed down a decision that a patent could be obtained based on a method of doing business. The dispute between these two companies involved a way to calculate concerning mutual funds, and the Supreme Court agreed that a particular method for calculating them could be patented under a business method patent.

TRIZ is a problem solving, strategy development, new research activities and product value maximizing tool for engineers, scientists, researchers and managers specially product development professionals. TRIZ is a methodology, tool set, knowledge base, and model-based technology for generating innovative ideas and solutions for problem solving.

TRIZ is a Russian acronym for “Teoriya Resheniya Izobretatelskikh Zadatch” (Теория решения изобретательских задач), a Theory of solving inventive problems or Theory of inventive problem solving (TIPS), developed by Genrich Altshuller and his colleagues since 1946.

If you are serious about an idea and want to see it turned into a fully fledged invention, it is essential to obtain some form of patent protection, at least to the ‘patent pending’ status. Without that, it is unwise to advertise or promote the idea, as it is easily stolen. More than that, businesses you approach will not take you seriously - as without the patent pending status your idea is just that - an idea.

1. When does an idea become an invention?

Whenever an idea becomes patentable it is referred to as an invention. In practice, this is not always clear-cut and may require external advice.

In recent years, there has been an extensive boost in technological concepts related to electronics and electrical domain. Electronic engineering is a constantly changing and widening branch of technology. Electronics and semiconductor engineering is one of the largest and fastest growing industries. This growth has entailed a wide range of patent filing, all through. Electronics and semiconductors covers a wide range of applications we use daily, such as Television, Radio, computers, telecommunication etc, which make our life easier and enjoyable. It helps us see, hear and communicate over enormous distances and accomplish tasks faster.

Since the flood of applications to the Patent Office, various online companies have applied for and been granted patents on a wide variety of methods, many of those involving Internet shopping or Web commerce advertising.

In order to qualify for a business method patent there are various criteria that must be met. First of all, a business method patent is granted for a method or type of business software that is practical in its purpose. This is a criterion which is common for granting of all patents.