A patent is an exclusive right granted for an invention, such as a product or a process. To patent your idea or invention in Canada, you first need to file a patent application with the Canadian Intellectual Property Office (CIPO). Most often, patent applications are prepared with the assistance of a patent agent or lawyer knowledgeable in commercial law. Applying for a patent does not necessarily mean one will be issued to you. Applications are examined by patent examiners to determine if they meet certain requirements for patentability. Canadian patent law operates on a first-to-file basis, so the patentable invention is considered new as of the date that the application is filed, rather than on the date that the invention was first conceived or prototyped. An invention can be a combination of old things as long as the combination, process or improvement is new.
Once the completed application is submitted and the examination completed, you’ll pay the final fee upon acceptance and will be able to download your patent – an electronic document provided in PDF format as issued by the Patent Office. The patent will include the patent number, name of the invention, a reference to the specification, the seal of the Patent Office and filing date, the date on which the patent is granted and issued, and the inventor.
Intellectual property can be passed onto a beneficiary or a business partner as included in the legal documents when you formed the partnership. Intellectual property includes business assets such as logos and branding, registered copyrights and trademarks.
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Further Reading: Intellectual Property Rights – Protect Your Idea