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OverviewPatents

Patents

Mr. Ramesh M Tavhare
Vice President- Legal & Corporate Affairs and Company Secretary
Patent is an official document giving the holder the sole right to sell an invention and prevent others from imitating it. A patent is, therefore, a limited property right that the government offers to inventors in exchange for their agreement to share the details of their inventions with the public. It may be sold, licensed, mortgaged, assigned or transferred, given awa or simply abandoned.

Accordingly, the Board has laid down this code for its Directors on the Board and the Senior Management.

Did you know...?
  • A patent is not a right to practise or use the invention. Rather, a patent provides the right to exclude others from making, using, selling, offering for sale, or importing the patented invention for the term of the patent.
  • A patent, being an exclusionary right, does not necessarily give the owner of the patent the right to exploit the patent.
  • The term of a patent is 20 years from the date of filing of the patent application. Each application is associated with a single invention only, and patents can be renewed after this period on payment of a renewal fee.
Why are patents important?
  • They protect the inventor’s time, effort and resources.
  • They establish the right to exclude others from making, using, selling or profiting from the invention.
  • They encourage innovation and growth.
Patent Cooperation Treaty (PCT)

    The PCT is an international agreement for filing patent applications having effect in up to 117 countries. This treaty:

  • Simplifies the process of filing patent applications.
  • Delays the expenses associated with applying for patent protection in other countries.
  • Allows the inventor more time to assess the commercial viability of his/her invention.
Patents and Premier

    Premier Ltd. is in a continuous process of innovations and productions and has filed 19 patents with the patent office. A few of these are:

  • Gear Tooth Chamfering and Rounding Machine
  • A Vertical Machine Centre
  • An Automobile
  • A System for Machining Railway Wheels
  • Turbo Diesel Engine
  • Naturally Aspirated Internal Combustion Engine

Premier is in the process of filing further patents for processes and products, demonstrating the strong technical and innovation skills developed in-house. Premier constantly strives to create systems and a work environment that encourages intellect and the best design capability. To prevent misuse, these technologies are filed for Intellectual Property Rights (IPR), enabling us to use them for the benefit of the industry as well as society.