WHY EVERY YOUNG ENTREPRENEUR NEEDS TO UNDERSTAND PATENTS

INTRODUCTION

In today’s fast-paced startup ecosystem, having a great idea is only the beginning. The real edge lies in how well you can protect that idea and turn it into a sustainable business advantage. For young entrepreneurs, especially those building technology-driven solutions or innovative products, patent registration is one of the most powerful tools available. It not only provides legal protection but also enhances credibility, attracts investors, and opens doors to licensing and revenue opportunities.

This article explores why patent registration is crucial for young entrepreneurs, how recent changes in Indian patent laws have made it easier, and walks you through the step-by-step patent application process in a way that’s clear, actionable, and relevant.

And if you’re looking for expert assistance, TMWala can guide you through each stage of the process from idea evaluation to patent grant.

PATENT FOR A NEW ENTREPRENEUR

A patent is a form of intellectual property (IP) that gives the inventor exclusive rights to make, use, sell, or license their invention for a specific period, typically 20 years. For a new entrepreneur, this can be a game-changer.

Imagine spending months or even years building a unique product, only to find someone else has copied your work and taken it to market faster. Without a patent, you may have little to no legal recourse. A granted patent acts as a shield that protects your innovation and a sword that gives you commercial leverage.

Beyond protection, patents also serve as a business asset. They can boost your company’s valuation, help you secure funding, and differentiate you from competitors. Investors and partners often take startups more seriously when they see “patent pending” or “patent granted” on core technology.

NEW PATENT RULES MAKE IT EASIER AND FASTER

Many young founders avoid patents, believing the process is expensive, slow, and complex. That was true earlier, but not today.

With the introduction of the Patent (Amendment) Rules, 2024, along with earlier changes in 2021, India’s patent system has been significantly streamlined to support startups, students, small businesses, and educational institutions.

Some key reforms include:

• Faster patent examination and grant– the timeline has reduced from 3–4 years to under 1 year for expedited applications.
• Fee reductions– startups, MSMEs, and educational institutions receive significant discounts, making the process more affordable.
• Expedited examination for startups and women inventors– providing quicker protection and time to market.
• Simplified reporting requirements– working statements are now required once every three years instead of annually.

These reforms show a clear intent to encourage innovation and make patent protection more accessible, especially for first-time inventors and entrepreneurs.

And for those who want to avoid procedural hassles, TMWala can act as your professional partner to ensure your application complies with all current rules and deadlines.

WHO CAN APPLY?

You don’t have to be a scientist or have a registered company to apply for a patent. The Indian patent system allows:

• Individual inventors, including students and freelancers
• Startups, particularly those developing technology or process-based solutions
• MSMEs, launching improved products or tools
• Educational institutions, filing for faculty or student research
• Women entrepreneurs, who can benefit from special fast-track procedures

As a young entrepreneur, if you’ve built something novel, non-obvious, and useful, then you are exactly the kind of innovator the patent system is designed to support.

FROM IDEA TO PATENT: THE PROCESS EXPLAINED

Securing a patent involves a few critical steps. Here’s a simplified walk-through tailored for first-time entrepreneurs. Read more: Patent Procedure in India with steps, timeline, and costs –

Step 1: Document Your Invention

Start by writing down every detail of your invention: what problem it solves, how it works, and what makes it different. Include sketches, diagrams, system architecture, and any prototypes. This initial write-up is called an invention disclosure and forms the backbone of your patent application.

Step 2: Sign a Non-Disclosure Agreement (NDA)

Before you speak to a patent agent or share your idea with anyone, make sure to sign an NDA. This legally binds the other party to keep your invention confidential.

Most reputable patent firms offer this at no cost, and it’s a good practice to protect your innovation in its early stages.

Step 3: Conduct a Patentability (Novelty) Search

This is an optional but highly recommended step that helps determine if your idea is truly novel. A patentability search compares your invention with existing patents worldwide to see if anything identical or similar already exists.

This step usually takes about a week and costs between ₹12,000 and ₹15,000. It helps you make an informed decision about whether to move forward and also assists in writing stronger patent claims.

Step 4: Draft the Patent Application

This is one of the most important and technical steps. Patent drafting is not just about describing your invention; it’s about claiming the broadest possible protection while ensuring legal strength.

Drafting is best done by an experienced patent attorney. A poorly drafted application can lead to rejection or weak protection, which competitors can easily bypass.

The cost for drafting typically ranges between ₹25,000 and ₹40,000 and takes about 10 working days.

Step 5: File the Patent Application

Once your application is ready, it is submitted to the Indian Patent Office. From this moment, your invention gets a “patent pending” status. You can now mention this on your website, packaging, or pitch decks.

The official government filing fee is ₹1,600 for startups and small entities, significantly less than what larger companies pay.

Step 6: Publication

Your application is automatically published 18 months after the filing date. However, if you want to fast-track the process, you can request early publication, and your application may be published within a month.

Step 7: Request for Examination

After publication, you must file a Request for Examination (RFE). Only then does the patent office begin reviewing your application.

The RFE fee for startups is ₹4,000. For faster results, startups and women entrepreneurs can request expedited examination by paying ₹8,000. This can lead to a patent grant in less than a year.

Step 8: Respond to Objections (If Any)

Most applications receive objections, often related to novelty or clarity. Your patent attorney will work with you to respond, argue the uniqueness of your invention, and modify the application if needed.

Sometimes, this step also involves hearings or detailed written communication with the patent office.

Step 9: Patent Grant

Once all objections are cleared and your invention is found to meet all criteria, the patent is granted and published in the official Patent Journal. You now officially own the rights to your invention.

TURNING YOUR PATENT INTO A BUSINESS ASSET

Getting a patent is not the end; it’s a beginning. Once granted, your patent becomes a valuable asset. You can:

• License it to other companies for royalties
• Use it to raise venture capital or secure loans
• Sell it outright if you wish to exit
• Monetize it through partnerships, tech transfers, or franchise models

A patent gives your business a competitive edge, shows customers and partners that you’re serious about innovation, and builds long-term value for your startup.

CONCLUSION

As a young entrepreneur, your biggest advantage is your creativity and problem-solving ability. But in today’s competitive landscape, creating is not a must to protect what you create.

Patent registration helps you secure ownership of your ideas, build a moat around your startup, and unlock funding and growth opportunities. With recent changes in Indian patent laws, the process is now more affordable, faster, and accessible than ever before.

If you’ve got an innovative idea with real-world application, don’t wait until someone else gets there first. Start your patent journey today.

Start your patent journey today with a trusted partner like TMWala by your side.