Which Among the Following is Not a Correct Statement Regarding Patent?

By K Balaji|Updated : October 6th, 2022
  1. A patent is a legal protection granted for an invention that is new, non-obvious and useful.
  2. The patent grants the patent holder the exclusive right to make use or sell the patented products or process.
  3. The exclusive purpose of the patent system is to benefit the patent holder.
  4. The Indian Patent Act, 1970, was amended and made effective from January 1, 2005.

The statement “ The exclusive purpose of the patent system is to benefit the patent holder.” is not correct.

All About Patent

An invention is protected by a patent, which is an exclusive right. In exchange for disclosing the idea to the public, the patent grants its owner the sole authority to use the invention for a set amount of time. Therefore, in general, the patent owner (patentee) has the right to bar others from manufacturing, utilising, offering for sale, selling, or importing the patented invention for those uses without the patentee's consent.

  • A patent is a licence or legal instrument that grants the sole or exclusive right to create, use, or sell an invention for a specific amount of time. Every nation will have a law controlling patents that issues these licences based on requests made by inventors. A patent is a way to protect one's own innovation from being used without permission.
  • The right to produce, use, sell, and distribute the patented product is granted to the patent holder. If the innovation involves a production method, the patent holder has the right to assign the method to another person with the patentee's consent.
  • The Patents (Revision) Ordinance, 2004 went into effect on January 1, 2005, and it introduced the third amendment to the Patents Act 1970. Later, on April 4, 2005, the Patents (Amendment) Act 2005 (Act 15 of 2005), which took effect on January 1, 2005, replaced this Ordinance.

Summary:-

Which Among the Following is Not a Correct Statement Regarding Patent? A patent is a legal protection granted for an invention that is new, non-obvious and useful. The patent grants the patent holder the exclusive right to make use or sell the patented products or process. The exclusive purpose of the patent system is to benefit the patent holder. The Indian Patent Act, 1970, was amended and made effective from January 1, 2005.

The exclusive purpose of the patent system is to benefit the patent holder is not a correct statement regarding the patent.

Related Questions:-

Comments

write a comment

CDS & Defence Exams

CDSCAPFAFCATTA ExamACC ExamOther ExamsPracticePreparation

Follow us for latest updates