Patents are a very important step in finding investors

Aurangabad, Sept 17:

Patents are a very important step in finding investors for the industry, so it is most important for start-ups to do research before filing patents for new services, products or technologies. If a similar patent has already been filed, the application can be rejected, said renowned lawyer and patent expert Gauri N Bhave. She was speaking in a webinar jointly organised by CMIAs Marathwada Accelerator for growth and Incubation Council (MAGIC) and Marathwada Institute of Technology on 'Intellectual Property Rights and Start-ups recently.

She said, all aspects including patent, designs, trademarks and copyrights should be considered comprehensively when filing a patent for a product, service or technology. Research is the only tool to be sure that no one will challenge the patent you are filing. Registration for a patent should be done only after completing all formalities otherwise it will be a waste of money.

Startups need to create a road map. Based on the research, the patent proposal should be made public only after considering the time taken to get the patent. Otherwise, competitors may copy your startup and bring the same type of product to the market, so investors may turn away. Magic founder Ashish Garde, Dr Amit Ravte, Dr Prema Kumar, Yogesh Tayde and others were present.