The Benefits of Registering a Patent in Canada

patent

By David Lotimer, February 22nd, 2017

Although we may not realize it, each day every one of us interacts with patented inventions. Our phones, cars, and computers contain hundreds of patented components. Even your favourite tent or sleeping bags have been protected by patents.

There are many benefits to registering a patent in Canada, and it is in your best interest to know these benefits.

A patent is an exclusive right of making, constructing and using an invention and selling it to others. In exchange for full disclosure on how to use the invention (the patent), the Canadian government allows a patent owner exclusive use of the invention for 20 years. The theory behind granting this limited term monopoly is that it provides the incentive for innovation.

This means a patent holder has 20 years of exclusive use of the invention they patent. For example, if you create and patent a new form of transportation, you will have exclusive rights to use that transportation in the way you so choose for the next 20 years.

This exclusive right to use may be very valuable. You will be able to sell these rights, license the rights or use them as assets to attract funding from investors. The exclusive right also prevents anyone else from from copying, manufacturing, selling or importing your invention without your permission. You are able to prevent other competitors from entering into the market.

Perhaps next time you hop on a chairlift, your mind will turn to the patent protecting the technology that gets you to the top of your favourite ski hill. It is that protection that allowed the chairlift inventor to design, manufacture and sell their invention without fear that they would be put out of business by someone copying their idea.

For more information please contact:

David Lotimer, Associate

T: 613.801.1063

E: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

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RANDALL MARUSYK

Partner


Randall is a partner of the firm and has been certified as a specialist in all areas of Canadian IP Law.
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