Benefits of Patent filing for Academic Institutions

Few Benefits of patent filing for Academic Institutions are as follows:

1. The name of inventors gets mentioned in patent publication which is a recognition given by government to inventors for their contribution in the development of technology where they are actively working.

2. If a patent is filed from a particular department of a engineering colleges than not only the name of inventors but also the name of the college gets recognition for their contribution in technology development.  The more the number of patents filed from a academic institutions the more it gets recognized for its elevated standard in their respective fields.

3. The Academic institution can monetize the pool of patents through licensing out the technology developed in their labs by their professors, guides and engineering students who have contributed in the making of patented technology.

4. At a bigger view the more is the intellectual capital of a academic  institution particularly patents, the more it gets recognition and the higher is the possibility of being ranked at international level.

5. It looks good in a resume of an engineering student going out for seeking job in the area of his interest.

6. Constant Patent search and analysis not only reveals the upcoming technology but also provide useful insights in where the patent data or IP is heading.

7. In one way, patent monitoring reveals the latest problems in the industry which needs to be solved. If the solutions are created and implemented,  the same can be a subject matter for patenting in the name of the academic institution.

8. Today 80 percent of technical knowledge exist in patent documents worldwide. This information is very huge and effective retrieval of information for R&D work plays key role in developing strategies to solve the problems existing in the industry at the time where alternative solutions are needed.

9. Patentability assessments prevents duplication of R&D and helps in tech transfer from nearest geographies where the development has already completed.

Disclaimer: The content of the blog are independent views of the author. The  information provided here is for the purpose of spreading IPR awareness among the academic institutions of the country. The contents of this blog are written out of academic interest only and should be checked thoroughly by relevant experts for its utilization under any institution.