Patent information helps in transfer of technology and direct investment

The Ministry of Commerce and Industry said that the patent information is required for transfer of technology, direct investment, research and development. The ministry provides information of patents through a service which is helpful for innovators and the companies.

The service provides details of the registration of the local and foreign patents in the intellectual department, its time and an opportunity to know latest developments in various technologies. It provides deterrence and safety for the others’ innovations by informing them that such technologies have already been registered. The intellectual property department of the ministry said patent document contains a comprehensive description of the method of work of the patented invention and the details which specify the scope of protection, date of the patenting and relevant references related to developments in the field of technology.

The total number of patent documents in the world is about 40 million, which makes patent information the most comprehensive collection of classified technical data, it said. According to the ministry, patent information helps researchers and business owners avoid duplication of research and development, build and improve existing products or processes, and assess the state of the specific industrial technology.

It helps in development of an idea and identify patented inventions in particular to avoid infringements.

It helps licensing understand new trends in technology or development of a product at an early stage.