Patents when granted form a property for the Patent holder, bestowed with several rights and monopoly over the invention. A patent forms an Intellectual capital for a firm and an asset for an individual.
Like any other movable property, A patent can be conveyed to other person for a consideration and as per the terms of an agreement. With transfer of patent rights in the patent also gets transferred. some of the rights are-:
Right to produce patented product.
Right to use patented process.
Right to give license.
Right to dispose patented goods.
Right to file a suit for infringement.
Types of owner for a patent.
Individual Owner-:A person who invents a product becomes the owner of the patent by the way of applying for patent application.There is a rebut table presumption that a person who presented the application of patent becomes the owner of the patent.
Joint Owner-: Group of persons who took part in the creation of invention will become joint owner,However to determine joint ownership the joint owners must have taken part in the inventive step for the invention.
Employee-Employer-Suppose an employee of a firm invents a product as a part of its duty then the ownership of the patent is in the name of that firm if there is an agreement between an employee and the employer.
Non inventor owner-: A person who is not an inventor of the invention becomes owner by the way of contract between the inventor and that individual.
All in all in order to determine the ownership of the patent firstly the name on the patent application is given preference in presuming the ownership of the applicant, secondly any agreement between that applicant and any firm/individual would rebutt the presumption and shifts the burden of proof to applicant.