PROVISIONAL PATENT

A Provisional Patent application is an interim step on the road to a patent. It is effective because by filing an appropriate provisional patent application a person can market the invention without fear of losing his patent rights, procuring cash to proceed with development and further patent operations. One of the most important legal document while applying for patent registration is provisional specification or complete specification. To increase the chances of obtaining patent registration, a provision specification can be filed along with a patent application if the applicant feels that the invention has reached a stage wherein it can be disclosed on paper, but has not attained the final stage.

The average time taken to file a provisional patent application is about 15 – 20 working days, subject to government processing time and client document submission. Get a free consultation on provisional patent application filing

As a patent can be so crucial in maintaining a business advantage, many inventors/businesses wish to patent their inventions even before they are finalised. This is possible through a provisional patent, which helps the inventor establish earliest ownership over the invention on submission of the provisional specifications of the product or process. As India follows the first-to-file system, this would ensure that the holder of the provisional patent would also be granted the permanent patent. The documents for the permanent patent would, however, have to be filed within 12 months or else the application would be abandoned entirely.

Advantages of Provisional Patent
  • Minimal Information Needed

    Even if your invention is at a conceptual stage, all you need is to specify the title, indicate the field of your invention, its nature and potential uses to file a provisional specification.

  • Established Right Early

    The provisional patent enables you to book your name against your invention even before it is final. The patent is awarded to the person who files it first, rather than the person who invents it first.

  • Assess Market Potential

    The provisional specification helps you can assess the market potential of your invention before taking the final plunge and filing a complete specification.

  • Components of Provisional Patent Specification

    The Provisional Specification is broadly explained under two topics, i.e. ‘Title’ which should fairly capture features of the invention and should be short and to the point. Further ‘Description’ which begins with the Preamble and contains the field and object of invention

  • Documents To Be Submitted

    Form 1 ( Application for grant of patent)
    Form 2 (Provisional Specifications)
    Form 5 ( Declaration of Inventorship)
    Form 26 (Power of Attorney). If your patent is filed by a Patent Agent then this form is necessary.
    E-filing fees (Patent Statutory fee)
    Form 3 (Corresponding foreign patent application statement and undertakings)
    Priority Document ( This is used for convention applications if priority date is claimed).
    Illustrations/Drawings of the invention.

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TaxFillingIndia: Legal Information for Indian businesses

Since 2011, ​TaxFillingIndia has been a one-stop solution for any business or entrepreneur looking for a lawyer, chartered accountant or company secretary. We have been particularly instrumental in ensuring startups are fully compliant with India's labyrinthine legal system. Over the past five years, the depth of our offerings, connection with reliable professionals, affordable prices and customer satisfaction has made us the largest online facilitator of legal services in India. We have already served over 120,000 customers and have a steadily growing network of over 1000 professionals from all the major cities (particularly the metros of Mumbai, Bangalore, Chennai, Delhi and Kolkata) on our online platform. In 2016, we launched way of working for legal professionals across India.

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In modern business, there is no other asset as valuable as intellectual property, and yet so many startups end up neglecting it. But this is surely not advisable, as trademarks, copyrights and patents ensure that you have sole rights to your creation, be it your brand, your designs or your inventions. At TaxFillingIndia, we are well equipped to handle all your IP requirements. We facilitate trademark applications in just three days, copyright registration for all your software, pictures, audio and video content, and can connect you to patent attorneys to conduct a patent search and file your patent applications. You can find a Trademark availability here.

Government Registrations

In India, you need a license for everything in business. Started a manufacturing business? You need a GST Registration and a Trade License. For a food business, you need an FSSAI license. Have employees? You need a Professional Tax registration and Shops & Establishments Act Registration. If that's not enough, you also need to file GST Returns and Professional Tax Returns.

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The worst way to approach business is to just get into new partnerships and arenas without examining consequences. By getting a lawyer to draft contracts or agreements with new vendors, employees and investors, you're ensuring that you have all the downsides covered. At TaxFillingIndia, we connect you to lawyers who will deliver complex documents, from shareholders' agreements and founders' agreements to terms of service/privacy policy and non-disclosure agreements, at a reasonable cost in a few days' time. Well-known startups, such as Holachef and Big Basket, have chosen to connect with a lawyer through us for their documentation work.

Mandatory Compliance

It's not enough to have started a private limited company or an LLP. You need to comply with all the requirements of the Ministry of Corporate Affairs and Income Tax Act once you do. You need to inform them of every relevant change you make, whether it is adding a director, removing a partner or increasing authorised share capital. You also need to file annual returns and maintain your accounts. In the case of a private limited company, you even need them audited. At TaxFillingIndia, we facilitate all these services completely online. Which means you can engage a professional on retainer for the year and we'll ensure that all the formalities are completed for you while you focus on your business.

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