Intellectual Property (IP) 101

In our previous article on the fundamentals of Intellectual Property, we briefly mentioned commercial patents. Now, let’s delve directly into the topic to better understand what exactly a patent is and, importantly, what can be registered as a commercial patent.

What is a Patent?

“To register a patent” refers to a product or process that provides a new way of doing something. It can either be a completely novel method or an enhancement to the performance of an existing process or way of doing something.

The patent is a title issued by the government, specifically by the Industrial Property Registry of the National Registry, which grants exclusive rights to the owner or creator of the patent, or alternatively, to the individual who has acquired those rights.

To register a patent, it must be demonstrated that the invention offers sufficient innovation compared to existing processes or methods.

What Can Be Protected via Patent?

Patents can be granted in various fields and can protect a wide range of inventions and creations:

• Processes: Methods for making or doing something, particularly in industrial or technical industries.
  
• Machines: Devices or methods for making devices, including their technical specifications and electrical particulars.
  
• Manufactures: Physical items or products that are made.
  
• Compositions: Chemical and pharmaceutical mixtures or innovations.
  
• Improvements: Enhancements, developments, or upgrades that make an existing process or product more useful, efficient, and effective.

What Rights Does a Patent Provide?

The primary right is that the patent owner has the exclusive right to use the invention. Additionally, the owner can decide whether others can use the patent for their commercial activities during the protected period.

Patent protection typically lasts for 20 years from the filing date of the application. The owner also has the right to charge a fee for using the patent, to license the patent, and to profit from their invention in these ways if desired.

Where is Patent Registration Valid?

Patents are governed by territorial rights. The exclusive rights mentioned above apply in the country or region where the patent is granted. The World Intellectual Property Organization (WIPO) established the Patent Cooperation Treaty (PCT), under which patents registered in one jurisdiction are protected in all member jurisdictions of the treaty.

The PCT is a treaty with over 155 contracting states, allowing patent applicants to file a single “international patent” application instead of multiple applications in each jurisdiction.

Why is Registering a Commercial Patent Important?

There are three key reasons:

1. Protection: A patent offers protection to an invention, providing recognition for the product or process.

2. Profit: It allows the patent holder to profit from their creation or innovation by using it themselves or licensing it to others for a fee.

3. Innovation: In a broader commercial context, patents encourage competitors to innovate, driving market evolution through competition.

Your Creations Matter!

You can safeguard your creations by registering them under one of the categories mentioned above, depending on what you have created. If you are interested in registering any intellectual property or have any questions regarding this matter or any other related to business and corporate affairs, please contact me Felipe Esquivel at fec@quatro.legal

I will be glad to assist you!

FELIPE ESQUIVEL C.
Paralegal – Corporate Law Department

Disclaimer: The information provided in this blog post is for general informational purposes only and is not intended to constitute legal advice. While we strive to ensure the accuracy and timeliness of the content, laws and regulations are subject to change. For the most accurate and up-to-date information, please contact our office directly. Some images may be AI generated.