A patent is a form of intellectual property. It consists of a set of exclusive rights granted by a sovereign state to an inventor or their assignee for a limited period of time in exchange for the public disclosure of an invention.
Under the World Trade Organization’s (WTO) Agreement on Trade-Related Aspects of Intellectual Property rights, patents should be available in WTO member states for any invention, in all fields of technology, and the term of protection available should be a minimum of twenty years.
A patent basically provides the right to exclude others from making, using, selling, offering for sale, or importing the patented invention for the term of the patent, which is usually 20 years from the filling date, subject to the payment of maintenance fees.
Patents allow the creator of certain kinds of inventions that contain new ideas to keep others from making commercial use of those ideas without the creator’s permission. For example, Sarah invents a new type of Phone that has fantastic functions. Not only can Sarah keep others from making, selling, or using the precise type of phone she invented, but she may also be able to apply his patent monopoly rights to prevent people from making commercial use of any similar type of phone during the time the patent is in effect (20 years from the date the patent application is filed). (to be continued)
There are three basic types of patents utility patents, design patents, and plant patents.
For all utility patents filed before July 8, 2012, the patent term is 20 years from date of filing, or 17 years from date of issuance, whichever period is longer. For utility patents filed on or after July 8, 2012, the patent term is 20 years from the date of filing. For design patents, the period is 14 years from date of issuance. For plant patents, the period is 17 years from date of issuance.
To qualify for a utility patent, an invention must be;
- A machine (usually something with moving parts or circuitry, such as a cigarette lighter, sewage treatment system, laser, or photocopier)
- A process or method for producing a useful, concrete, and tangible result (such as a genetic engineering procedure, an investment strategy, computer software, or a process for conducting e-commerce on the Internet)
- An article of manufacture (such as an eraser, tire, transistor, or hand tool)
- A composition of matter (such as a chemical composition, drug, soap, or genetically altered life-form)
- An improvement of an invention that fits within one of the first four categories
A patent may expire if its owner fails to pay required maintenance fees. Usually this occurs because attempts to commercially exploit the underlying invention have failed and the patent owner chooses to not throw good money after bad.
Patent protection ends if a patent is found to be invalid. This may happen if someone shows that the patent application was insufficient or that the applicant committed fraud on the PTO, usually by lying or failing to disclose the applicant’s knowledge about prior art that would legally prevent issuance of the patent. A patent may also be invalidated if someone shows that the inventor engaged in illegal conduct when using the patent — such as conspiring with a patent licensee to exclude other companies from competing with them.
Once a patent has expired, the invention described by the patent falls into the public domain: it can be used by anyone without permission from the owner of the expired patent. The basic technologies underlying television and personal computers are good examples of valuable inventions that are no longer covered by in-force patents.
The fact that an invention is in the public domain does not mean that subsequent developments based on the original invention are also in the public domain. Rather, new inventions that improve public domain technology are constantly being conceived and patented. For example, televisions and personal computers that roll off today’s assembly lines employ many recent inventions that are covered by in-force patents.
The following items are just some of the things that might qualify for patent protection: biological inventions; business methods; carpet designs; new chemical formulas, processes, or procedures; clothing accessories and designs; computer hardware and peripherals; computer software; containers; cosmetics; decorative hardware; e-commerce techniques; electrical inventions; electronic circuits; fabrics and fabric designs; food inventions; furniture design; games (board, box, and instructions); housewares; Internet innovations; jewelry; laser light shows; machines; magic tricks or techniques; mechanical inventions; medical accessories and devices; medicines; musical instruments; odors; plants; recreational gear; and sporting goods (designs and equipment).
Meet Bridget Hilton the 26 old Co-founder of jack’s soap founded in 2011 with the goal of saving life’s through soap. Bridget Hilton the founder of Jack’s Soap could not live with this statistics in mind so she took action and over a period of three months, she created and launched a for-profit company that donates soaps to children in need, for every bar of soap sold.
To ensure the perpetuation of good hygienic practices, Jack’s doesn’t just donate the soaps but also educates the recipients about the importance of good hygiene. These luxurious soaps are made with organic ingredients, use recycled packaging materials, and are vegan and cruelty free–making them both PETA and USDA approved
Jack’s Soap Website: www.JacksSoap.com
Jack’s Soap on Facebook: www.facebook.com/jacksoap
Jack’s Soap on Twitter; @JackSoap
Bridget Hilton on Linkedin; http://www.Linkedin.com/in/BridgetHilton
I was very surprised this morning when a guy selling bread at the road side asked my brother to accompany him to the car dealership in other to buy an 18 seater Bus! I was also informed that the same guy had built a house, was married with three kids.
This guy graduated many years ago, searched for jobs and could not gain employment. In other to survive he was determined to get engaged in menial jobs. He began to sell bread at the T-Junction of a major road in Lagos. Today he is financially stable, doing better than most graduates in paid employment.
A lot of young people are unemployed as a result of laziness and pride. They are not willing to get their hands dirty and do the required hard work like the rich do. There is dignity in labour even in carrying out menial jobs. Creativity would differentiate you from the other person doing same;all you need is packaging.
If you must make money, be ready to work hard, money should not be your priority in the first place, providing a service that gives value should be topmost on your list. Don’t be deceived by your degree there are a lot of graduates who are jobless and broke. Find something doing.
Someone earning Ten thousand Naira monthly is better than someone hoping to earn Two Hundred Thousand Naira monthly. The journey of a thousand miles begins with a step.
Start something today
There’s an ongoing revolution in Nigeria right now, young people all over the country, are organizing themselves, developing roadmaps and solutions to problems, taking responsibility for their future. The Business management Conference 2012 which took place this weekend at the Farm Centre, Ministry of Agriculture& Cooperatives, Oko Oba, Agege, Lagos is one of such youth platforms aimed at preparing participants for the demands of the 21st century workplace, igniting the spirit of entrepreneurship and encouraging startup businesses in Nigeria. The conference was organized by these young Nigerians; Asenime Gregory, Abiodun Dominic, Ojeyinka Tolulope, Araba Steve and Airhunuoje Micheal
The facilitators of the various group sessions included; Frank Osodi of House of Bunor Crezioni, Funke Bucnor-Obruthe of ZAPPHAIRE EVENTS, Bunmi Davies of Afrotainment and Tayo Olosunde; principal partner of E-Green Limited(an Enterprise Sustainability Human capital and corporate Social Investment Management Firm).
Tayo Olosunde (E-Green services) facilitated the first session spoke on Branding: In this session, the topic of Brand Management was strategically looked into to position participants for entrepreneurial success.
Mr. Aderinwale Ayodele (Executive Director, Africa Leadership Forum) facilitated the second session; he spoke on the Mind of an entrepreneur:
Frank Osodi (House of Bunor) facilitated the session on fashion
Tosin Babajide (Broad Vision) facilated the Waste recycling session; participants interested in the waste recycling business, were given hands on practical advice on how to start and run the business
Bunmi Davies (Afrotainment) facilitated the session on media and showbiz; Participants whose interest lies in the media/entertainment industry received apt mentorship from one of the nation’s leading media brand thus positioning them for a successful media business venture
Johnson Abbaly (Achievers consortium) facilitated the session on management for startups
Prof. Abby Awosika-Fapetu (Executive Director, OASIS Education) facilitated thesession on financial management for startups during the session; participants irrespective of line of chosen trade were given practical and insightful tips on how to go about accessing and managing funds for their entrepreneurial endeavours.
Connect with BMC:
Telephone Numbers: 08051787296, 08181059411
Email address: email@example.com
The following are pictures from the event:
Tayo Olosunde giving a session on Branding
Tayo Olosunde receiving a plaque from the organizers
Cross session of participants.
Participants taking notes.
Abiodun Odunugha and I
Tayo Elegbede and I
Did you know that the “Happy Birthday” song was not copyrighted until a smart woman did the research and discovered it was in the public domain?
She was granted a copyright, and each time you hear the song being played on air she gets a royalty.
In the 1960’s some of the major American Car companies had failed to properly Copyright and Trademark there in Europe. It was a multimillion-dollar mistake. One enterprising young college student discovered the oversight and went from country to country in Europe doing the necessary legal work to ‘Capture’ the name.
In order to sell their cars in Europe, these companies ended up paying him in millions in licensing fees
Have you ever considered having your own business? If you have a good place to start is by registering your business name. If you own a start up please do well to register your business name with the Corporate Affairs Commission (“C.A.C.”).
The C.A.C is responsible for the formation and management of companies in Nigeria. The commission is empowered to handle all issues associated with company registration, business names and incorporated trustees in Nigeria.
In order to be legally smart as a business owner you need to register your business name as this action would give people great confidence to do business with you.
Before coming up with a business name, consider the following statutory requirements:
- The names should not be similar to any business or trademark registered in Nigeria. e.g Mike Lawanson Ventures
- The name should not contain words like ‘National’ ‘Government’ ‘State’ ‘Co-operative’ etc.
- To use the word ‘Consulting’ you would need to provide the commission evidence of relevant professional qualification; thus avoid the using the word if you don’t have such qualifications.
Please note that the C.A.C. has the right to disapprove your business name if someone else has registered that same name thus you need to have three alternate names, until your business name is approved you can’t proceed to the next stage.
Once you get a go ahead then you would be able to register your business name;
The following are the requirements for the business registration form:
- The approved business name
- The business address
- The name of the sole proprietor or partners
- The address of the owners
- Two passport photographs of the owners
- General nature of the business
The C.A.C. requires that you state what your business is all about. You have to state at least one thing. The maximum is three. It is up to you to find an object that best describes your business is about.
The following are the objects allowed by the C.A.C.;
- Advertising/Public Relations
- Agricultural Produce
- Agricultural Tools, Machines and Allied Products.
- Alternative Medical practice
- Aluminum Manufacturing
- Architects/Town Planners
- Auto Dealers
- Auto Mechanics and Rewiring Services
- Auto Spare Parts Dealers
- Bakery and Fast Foods
- Beauty Industry (Salon, Pedicure, Manicure, Barbing ETC)
- Bookshops/Stationery Stores
- Car Washing Services
- Carpentry/Wood works
- Chattered Secretaries
- Commission Agents
- Computer Training, Sales and Services
- Cosmetic Manufacturers/Dealers
- Day Care Center
- 20. Dealers and Distributors
- 21. Electrical/Electronic Equipments Dealers
- Entertainment Industry/Events Managers
- Estate Agency/Maintenance
- Fashion Designers
- Fish Farming/Fisheries
- Food Products and Processing
- General Contracts
- General merchandise/Trading
- General Tax Consultants
- Guidance and Counseling
- Gymnastics and Stress
- Horticulture/Gardening/Landscaping/Equipment Services.
- Hotel/Hospitality Industry
- Human Resource Manager
- Import/Export of goods and services
- Industrial Chemical Supply and Service
- Interior/Exterior Decorations
- Internet Service Providers
- Land and Quantity surveyors
- Laundry/Dry Cleaning Services
- Legal Practice and consultancy
- Maternity Home
- Medical and Pharmaceutical products (manufacturing, sales and services)
- Medical Services/Laboratory
- Patent Medicine Store/Chemist
- Petroleum Products Sales/ Distribution
- Pharmaceutical Manufacture/Services
- Photography/Photo Equipment
- Plastic Manufacturing
- Poultry Farming
- Restaurant/Catering services
- Road Transportation
- Schools (Nursery, Primary and Secondary Schools)
- Supermarkets/Departmental Stores
- Textile Manufacturers/Distributors
- Travel Agents
- Veterinary Clinic/Services
- Water works/Borehole drillers
Most businesses will fall under one of these, if not, just use General Merchandise
After getting the certificate for registering your business, you can then be assured that you are legally smart.