The idea of getting patents is a good moves from the point of view of enforcing the patent rights. Let’s talk about haptic technology patented by Immersion.U.S. Patent No. 8,619,051 titled ‘Haptic Feedback System and Stored Effects‘ which deploys feedback to a device by responding with a vibration and the ability to store the feedback patterns and effects.
Important International Patent Classifications Identified by the Patent Examiner in this Patented Innovation:
G06F3/041Digitisers, e.g. for touch screens or touch pads, characterised by the transducing means
G06F3/016Input arrangements with force or tactile feedback as computer generated output to the user
H04M19/04Current supply arrangements for telephone systems providing ringing current or supervisory tones, e.g. dialling tone, busy tone ringing-current generated at substation
H04M19/048Arrangements providing optical indication of the incoming call, e.g. flasher circuits
Haptic devices incorporate microcontrollers, drivers, actuators or motors, as well as software for multimodal experiences that improve the usability by engaging touch, sound and sight. Haptics is widely becoming a tool used in a variety of applications they can be found in virtual reality applications to give a greater sense of realism or create a 3D environment. The haptic technology has been found in smartphones and computer and video games for many years but the innovations utilizing haptic technology is now integrating haptic technology into healthcare, transportation, robotics etc.
Some of the recent patents based on haptic technology:
Title: Eye tracking to move the cursor within view of a pilot
Assignee: Rockwell Collins, Inc. (Cedar Rapids, IA, US)
Publication Date: 28 Nov 2017
The present disclosure is directed to a method for managing a location of a cursor on a display. The method may include the step of receiving an input from a user. The method may also include the step of detecting a gaze of the user within the display. The method may also include the step of displaying the cursor on the display within the gaze of the user.
Title: NOVEL PORTABLE DEVICE HAVING A CHANGEABLE ILLUMINATED DISPLAY AND COMMUNICATIONS PLATFORM
Assignee: Eiland, Donald Curtis (Milpitas, CA, US)
Publication Date: 7 Dec 2017
The present invention relates generally to illuminated display devices and methods of displaying indicia, advertisements, etc. on a changeable illuminated display. The display device comprises a frame structure, a plurality of openings formed in the frame structure, the plurality of openings comprising first and second open spaces disposed at top and bottom positions, respectively, of the frame structure, and the plurality of openings further comprising a third open space disposed between the first and second open spaces. The display device further comprises a compact image display device operable to display an image, the compact image display device held and positioned relative to the frame structure such that first, second, and third different portions of the image, when displayed by the compact image display device, are visible through the plurality of openings first, second, and third open spaces, respectively. Additionally, control circuitry is coupled to the compact image display device.
Title: Haptic augmented and virtual reality system for simulation of surgical procedures
Assignee: IMMERSIVE TOUCH, INC. (Westmont, IL, US)
Publication Date: 7 Feb 2017
The present technology relates to systems, methods and devices for haptically-enabled virtual reality simulation of cerebral aneurysm clipping, wherein a user uses two physical stations during the simulation. The first station is a haptic and augmented reality station, and the second station is a haptic and virtual reality station.
The first thought that comes to creative intellectual mind in Industry 4 Era is Internet and combination with so many souls in the online world. What is Software? What is Software-Hardware Product? How to deploy Software-Hardware Patents?
Services offered by Tech Corp International Strategist, India (TCIS, India) to Food Industries:
1). Trademark Filing:
A brand is the key component of a food company or product’s success. A trademark is a legally protected word, name, design, logo, or other symbol of your product or business. For example, “Oreo” is a trademarked product name. That means no one else can use the name “Oreo” to sell their cookies. A trademark can be obtained for a food product, restaurant or chef’s name.
TCIS, India helps the food industries obtain a trademark for a food product as well as the company. Clients of the firm enjoy the following services:
Free initial trademark consultation with an experienced trademark attorney
Review of office actions by an experienced trademark attorney
Trademark attorney personal attention to their matters
Firm ideology of involvement that requires “going the extra mile”
Firm policy to return client phone calls and respond to emails immediately whenever practical
Cost-effective flat rates
Apply for TM Registration and discuss your brand strategy and understand importance of brand, logo and tagline with expert consultants at Tech Corp International Strategist India TCIS, India.
2). Copyright Filing:
A Copyright is an exclusive and assignable legal right, given to the creator of original artistic work for the use and distribution of the artistic work for a limited period of time. Copyright is a form of intellectual property, copyright are considered territorial rights,which means that they don’t extend beyond the territory of a specific jurisdiction. Copyright does not protect merely utilitarian articles, ideas, facts, or formulas. Since food is a useful article, copyright law will apply only if the food incorporates highly creative features that are separable (either physically or conceptually) from the food’s utilitarian features.
In food industries, chefs sometimes borrow and build upon ideas from others. Properly applied, intellectual property law is flexible enough to protect highly creative food designs from substantial copying. Copyright filing is important because a chef who, without permission, creates a derivative food design that is substantially similar to another’s copyright-protected food design or other work could be at risk for copyright infringement claims.
Cooking is also a “ART”.
Protect your art by filing a COPYRIGHT.
Apply for Copyright Registration at Tech Corp International Strategist India TCIS, India.
3). Filing Patents in Food Industries
A food industry can obtain a patent on a novel and non-obvious recipe or cooking technique. However, overcoming the novel/non-obvious hurdle under patent law is difficult in the food industry. Patents can also be obtained for a novel food processing strategy. Moreover, patent rights can be used to protect new ideas which arise from the Research and Development department in the food industry. Food and drinks is one of the largest manufacturing sectors and industry invests heavily in R&D. Many Food industries overlook the opportunity to patent aspects of their food products or specialised manufacturing processes.
TCIS, India has a large in-house, full-time team of patent agents, attorneys, or former patent examiners, many of whom hold advanced degrees in food technology. We at Tech Corp International Strategist (TCIS, India) can help you determine if your invention is patentable. Our team of Patent attorneys have expertise in worldwide Patent analysis, Patent portfolio and landscaping besides Prior art searching, validity searches, Freedom to Operate report and Reporting patent Infringement for granted patents.
For further information on patents and patent filing in India connect with our highly skilled and experienced patent lawyers and IP strategists.
4). Plant Varieties Rights:
Plant Breeders’ Rights (PBR) is an internationally recognised system, which allows the breeder to hold intellectual property rights in the propagation of a new variety for commercial use. It enables the collection of end-point royalties (EPR), which can then be used to fund future breeding activities.
Plant breeders’ rights (PBR) are also known as plant variety rights (PVR), and gives the breeder exclusive control over the propagating material (including seed, cuttings, divisions, tissue culture) and harvested material (cut flowers, fruit, foliage) of a new variety of plant for a specific period of time.
To qualify for protection, a plant variety must be new, distinct from other varieties, and have uniform characteristics.
If You Are Wondering What The Process Is To Obtain Plant Variety Rights, Contact Our Attorneys at Tech Corp International Strategist India TCIS, India For More Information.
5). Obtaining Industrial Design Rights:
Industrial Design protection is provided for a shape, configuration, surface pattern, colour, or line (or a combination of these), which, when applied to a functional article, produces or increases aesthetics, and improves the visual appearance of the design. Industrial Design rights are provided for a period of 10 years and can be renewed for an additional period of 5 years. For a design to qualify for protection are: It should be novel, original, non-obvious and should be visible on a finished functional article.
To know more about obtaining Industrial Design Protection in India, Contact our Attorneys at Tech Corp International Strategist India TCIS, India
Schedule a call today via clarity to get #strategic #advice #patents #brandbuilding #brandtrademarkstrategist
A Trademark is a type of intellectual property protection, under which a word, phrase, visual symbol and/or design used by a company to distinguish its goods or services from other similar goods or services originating from a different company can be protected. A trademark registration will confer an exclusive right and legal certainty to the use of registered trademark by the right holder.
Trademark protection can be obtained by filing a trademark application with the relevant Trade Mark Registrar in the prescribed format and paying the required fees.
Once a trademark application is filed, the trademark registration application will be allocated to a Trademark Officer in the Trademark Registrar Office. The Trademark Officer would then process the application and analyse it. The Trademark Officer will give its opinion about the Trademark in the form of an “Examination Report”. Based on the Examination Report, the trademark application is published in the trademark journal or an objection is raised for registration of Trademark.
If the trademark registration application is objected by the Trademark Officer, the trademark applicant has the right to submit a written reply for the objections raised within 1 month from the date of receipt of examination report. The trademark examination reply should include reasons and evidences along with the supporting documents to prove the distinctiveness of the trademark and as to why the trademark should be registered. The application is allowed to be published in the Trademark Journal before registration only if the Trademark officer is satisfied by the reply. Thus, the reply to the Trademark examination report should address all the concerns raised by the Trademark Officer.
The Trademark Officer raises an objection for registration of trademark under Section 9 and Section 11 of “The Trade Marks Act, 1999”.
Section 9 of The Trade Marks Act, 1999 states the Absolute grounds for refusal of registration—
(1) The trade marks—
(a) which are devoid of any distinctive character, that is to say, not capable of distinguishing the goods or services of one person from those of another person;
(b) which consist exclusively of marks or indications which may serve in trade to designate the kind, quality, quantity, intended purpose, values, geographical origin or the time of production of the goods or rendering of the service or other characteristics of the goods or service;
(c) which consist exclusively of marks or indications which have become customary in the current language or in the bona fide and established practices of the trade, shall not be registered:
Provided that a trade mark shall not be refused registration if before the date of application for registration it has acquired a distinctive character as a result of the use made of it or is a well-known trade mark.
(2) A mark shall not be registered as a trade mark if—
(a) it is of such nature as to deceive the public or cause confusion;
(b) it contains or comprises of any matter likely to hurt the religious susceptibilities of any class or section of the citizens of India;
(c) it comprises or contains scandalous or obscene matter;
(d) its use is prohibited under the Emblems and Names (Prevention of Improper Use) Act,1950 (12 of 1950).
(3) A mark shall not be registered as a trade mark if it consists exclusively of—
(a) the shape of goods which results from the nature of the goods themselves; or
(b) the shape of goods which is necessary to obtain a technical result; or
(c) the shape which gives substantial value to the goods. \
Section 11 of The Trade Marks Act, 1999 states the Relative grounds for refusal of registration—
(1) A trade mark shall not be registered if, because of—
(a) its identity with an earlier trade mark and similarity of goods or services covered by the trade mark; or
(b) its similarity to an earlier trade mark and the identity or similarity of the goods or services covered by the trade mark,
there exists a likelihood of confusion on the part of the public, which includes the likelihood of association with the earlier trade mark.
(2) A trade mark which—
(a) is identical with or similar to an earlier trade mark; and
(b) is to be registered for goods or services which are not similar to those for which the earlier trade mark is registered in the name of a different proprietor, shall not be registered if or to the extent the earlier trade mark is a well-known trade mark in India and the use of the later mark without due cause would take unfair advantage of or be detrimental to the distinctive character or repute of the earlier trade mark.
(3) A trade mark shall not be registered if, or to the extent that, its use in India is liable to be prevented—
(a) by virtue of any law in particular the law of passing off protecting an unregistered trade mark used in the course of trade; or
(b) by virtue of law of copyright.
(4) Nothing in this section shall prevent the registration of a trade mark where the proprietor of the earlier trade mark or other earlier right consents to the registration, and in such case the Registrar may register the mark under special circumstances under section 12.
(5) A trade mark shall not be refused registration on the grounds specified in sub-sections (2) and (3), unless objection on any one or more of those grounds is raised in opposition proceedings by the proprietor of the earlier trade mark.
(6) The Registrar shall, while determining whether a trade mark is a well-known trade mark, take into account any fact which he considers relevant for determining a trade mark as a well-known trade mark including—
(i) the knowledge or recognition of that trade mark in the relevant section of the public including knowledge in India obtained as a result of promotion of the trade mark;
(ii) the duration, extent and geographical area of any use of that trade mark;
(iii) the duration, extent and geographical area of any promotion of the trade mark, including advertising or publicity and presentation, at fairs or exhibition of the goods or services to which the trade mark applies;
(iv) the duration and geographical area of any registration of or any application for registration of that trade mark under this Act to the extent that they reflect the use or recognition of the trade mark;
(v) the record of successful enforcement of the rights in that trade mark, in particular the extent to which the trade mark has been recognised as a well-known trade mark by any court or Registrar under that record.
(7) The Registrar shall, while determining as to whether a trade mark is known or recognised in a relevant section of the public for the purposes of sub-section (6), take into account—
(i) the number of actual or potential consumers of the goods or services;
(ii) the number of persons involved in the channels of distribution of the goods or services
(iii) the business circles dealing with the goods or services, to which that trade mark applies.
(8) Where a trade mark has been determined to be well known in at least one relevant section of the public in India by any court or Registrar, the Registrar shall consider that trade mark as a well-known trade mark for registration under this Act.
(9) The Registrar shall not require as a condition, for determining whether a trade mark is a well-known trade mark, any of the following, namely:—
(i) that the trade mark has been used in India;
(ii) that the trade mark has been registered;
(iii) that the application for registration of the trade mark has been filed in India;
(iv) that the trade mark— (a) is well-known in; or (b) has been registered in; or (c) in respect of which an application for registration has been filed in, any jurisdiction other than India; or
(v) that the trade mark is well-known to the public at large in India.
(10) While considering an application for registration of a trade mark and opposition filed in respect thereof, the Registrar shall—
(i) protect a well-known trade mark against the identical or similar trademarks;
(ii) take into consideration the bad faith involved either of the applicant or the opponent affecting the right relating to the trade mark.
(11) Where a trade mark has been registered in good faith disclosing the material informations to the Registrar or where right to a trade mark has been acquired through use in good faith before the commencement of this Act, then, nothing in this Act shall prejudice the validity of the registration of that trade mark or right to use that trade mark on the ground that such trade mark is identical with or similar to a well-known trade mark.
Thus, if the Trademark officer has raised an objection under Section 9 or Section 11 of the Trade Mark Act, 1999, the reply must contain the judicial precedent and should prove the point with proper evidence.
Inspiration can be found anywhere if you look around and be open to it. Ideas are relatively easy to come. “Sit-at-tea-discussions”, which are now given a fancy term “brainstorming sessions” generate wonderful ideas. It takes a lot of knowledge, time, money and efforts to refine an idea into an invention.
But How do you begin with the idea process? First of all discover a problem. Take out a sheet of paper and write down whatever comes to your mind related to the problem; it doesn’t necessarily make sense and try to come up with a solution to the problem you just discovered. Only after you organize your initial idea, the actual design and development of your product will begin.
Turning an idea into an invention — it takes lot of efforts and luck to launch a product into, and get that product accepted by, the marketplace. There are substantial barriers in the path of those who pursue innovation. Overcoming those barriers and accomplishing the tasks require careful planning and input from others.
You can’t just take an idea, plunk it down and say “OK, this is it.” You will be defining and tweaking your idea constantly even during development and prototyping.
Entrepreneurship can be a tough and long journey, and the success of your idea may be doubted by many people, even your family and friends! But remain focused on the value that your invention will deliver to your customers. You should be able to clearly explain the basic idea or concept behind your new product or service (in and out of the industry), have a prototype for demonstration of your new product or service, and you may seek professional advice to protect your intellectual property.
How will you determine if your idea will succeed?
One of the best ways to determine the success of your idea is to talk to people around, get customer feedback, before the complete development of the product/service and finalise your target market, pricing model and marketing strategy. Inorder to validate the entry of your product/service into the market carry out complete industrial trials for your product/service.
When you finally set out to launch your business, one of the most important trait you need as an entrepreneur is “Perseverance”. You’ll be told “no” many times but you’ve to move beyond the “no” and eventually, you’re going to get to a “yes.”
Understand that doing business isn’t a rocket science. No, it is definitely not easy to begin a business, but it’s not as complicated or as scary as many people think, either. It’s a step-by-step, common-sense procedure. So take one step at a time!!
You Might wonder weather Micro-organisms can be Patented or not?
Intellectual Property Protection in the form of a patent is granted for an invention which is novel, has an inventive step and is capable of being made or used in an industry. But when an invention is said to be novel? An invention is new if it is not in the public domain by publication in any document or used in the country or anywhere in the world before the date of filing of patent application with full specification.
As per the criteria for filing a patent- MICROORGANISMS in their NATIVE or ORIGINAL form cannot be patented as such!
With the advancement in the field of Microbiology and Biotechnology, Man has been developing tailor-made microorganisms to exploit their economic potential.
Prior to 1980, Inventions pertaining to microorganisms and other biological entities were subject to product patents in India i.e patents were granted for processes and products obtained using microorganisms but no patents were given for microbes as such.
For example- Louis Pasteur received a U.S. Patent No 141072 for process of fermenting beer but no patent was given for the living entity “yeast” per say. However, in 1980, Ananda Mohan Chakrabarty developed a “genetically modified” bacterium capable of breaking down crude oil. This property of degrading crude oil was not not found in the naturally occurring bacteria and thus this invention was thought to have significant value for cleaning up oil spills.
Ananda Mohan Chakrabarty filed a US Patent for this genetically modified bacteria but his claim on a living entity was rejected by USPTO (United States Patent and Trademark Office). But the Supreme Court decision went in the favor of Ananda Chakrabarty. The Supreme Court stated that new microorganisms not found in nature were either ‘manufactured’ or ‘composition of matter’. The ‘product of nature’ objection therefore failed and Ananda Mohan Chakrabarty was granted US Patent No. 4,259,444 in 1981.
Thus, Genetically Modified Microorganisms are PATENTABLE!
However, when an invention involves a microorganism, completely describing said invention in the description to enable a third person put the invention into practice becomes difficult. It would be virtually impossible to describe the microbial strain, its isolation, selection and modification to guarantee that the other person will obtain the same strain from the same environment. In such a situation, the microorganism itself will form an essential part of the disclosure and a sample of the microorganism must be deposited in a recognized institution for its availability to the public.
But while drafting a patent application, it has to be taken care that the description part of the patent application must enable a person skilled in the relevant area of technology to put the invention into practice.
In order to patent an invention involving microorganism in several countries, it is necessary not only to file a written description but also to deposit a sample of the microorganism with a specialized institution.
Because the handling and preservation of microorganisms require special expertise and equipments, such a process of depositing microorganism with a specialised institute for every country is complex and costly.
The “BUDAPEST TREATY” is an International Treaty administered by World Intellectual Property Organization (WIPO), signed in Budapest, Hungary in 1977 and came into force in 1980. The treaty allows or requires the Contracting States (80 Contracting Parties) to deposit a sample of microorganism for the purpose of patent with any Internationally recognized authority (IRA) irrespective of whether such authority is on or outside the territory of the said State. This means that it is no longer required to submit microorganisms to each and every national authority in which patent protection is required no longer exists.
There are 80 Contracting Parties of Budapest Treaty. For the list of Contracting States of Budapest Treaty refer to-
There are 46 on record INTERNATIONAL DEPOSITARY AUTHORITIES (IDA) under article 7 of the Budapest Treaty. For the list of INTERNATIONAL DEPOSITARY AUTHORITIES (IDA) under article 7 of the Budapest Treaty refer to-
However the depositor should, in particular, ensure that the deposit is made in the name of the applicant for the patent and a sample of the microorganism is deposited to an International Depositary Authority before filing the patent application. There should be sufficient time for delays in the mail or customs formalities (if the sample is being sent by mail). If the sample is found to be non-viable by the International Depositary Authority (IDA), a replacement sample has to be provided by the applicant for the patent.
India became a member of Budapest Treaty on 17 December 2001. In India, Microbial Type Culture Collection and Gene Bank (MTCC) at the Institute of Microbial Technology (IMTECH), Chandigarh, is a recognized International Depository Authority (IDA) of microorganisms.
Inventorship and Ownership of a patent are separate and distinct issues. Disputes mainly arise over ownership of inventions between employees and employers.
Generally, the inventor owns a patent. However, the inventor and the owner of the patent may be different. This typically occurs when the inventor assigns the patent to an entity, such as a corporation or a university.
Complex and serious legal issues involving the ownership of a patent often arise when inventorship or the duty of an inventor to assign the patent is not clearly defined.
With patents, the concepts of inventorship and ownership, though related, are distinct:-
Inventorship is a legal concept that is based upon who meets the requirements to be an inventor.
The concept of Ownership relates to who actually owns the legal rights associated with the patent.
In the case of an Independent Inventor, the inventor and the owner of a patent are usually the same. In a University or a Corporate Setting, the inventor does not own the patent. Rather, the University or Corporation is the owner.
Patent applications filed in the United States must be filed in the name of the person who invented the invention.
The act of invention has two parts, “Conception” and “Reduction of Concept to practice.”
Conception is the formulation in the mind of the inventor of the complete means for solving a problem in such a way that a person skilled in the relevant art could practice the invention by following the inventor’s conception.
However, an invention is not complete following conception, It must further be reduced to practice. This can be accomplished in one of two ways.
There may be an “actual” reduction to practice, which is when the invention is made and tested to determine that it works.
However, reduction to practice does not require the invention to be made. An invention can be “constructively” reduced to practice by filing a patent application claiming the invention.
For purposes of invention, a constructive reduction to practice is considered to be equivalent to an actual reduction to practice.
The inventor is the individual who has concept of the invention, provided of course that there has been a reduction to practice. An individual who reduces the invention to practice by following the conception of the inventor is not considered to be an inventor.
There may be only one inventor, which occurs when one person has conceived of the entire invention. Very commonly, however, invention is a collaborative process involving two or more people. When more than one person contributes to the conception of an invention, each is considered to be a joint inventor.
Joint inventors do not have to have physically worked together on the invention. There must have been some collaboration, however, and each of the inventors must have worked on the same subject matter and must make some contribution to the conception of the invention as it is claimed in the patent. All of the joint inventors do not have to be inventors of every claim.
Even if an individual contributes a conception to only one claim in a patent, that individual is still a joint inventor of the entire patent.
Each of the joint inventors are named on the cover page of a patent. The order of the names of the inventors has no legal significance.
The rights in the patent of one named inventor are the same as those of each of the other named inventors, irrespective of the order in which they are listed.
One final point concerning inventorship is that an individual who has not contributed to the conception of the invention is not an inventor, and is not permitted to be listed on the patent as an inventor.
Even if someone has contributed a large amount of money to permit the inventors to work, or if someone heads the research department in which the inventors work, that person is not an inventor.
Inclusion of such a person’s name as an inventor on a patent, with knowledge that the person does not qualify as an inventor, can result in invalidity of the patent. Therefore, that person’s name must not be listed as an inventor on the patent.
Absent any contrary agreement or duty to assign the patent, the named inventor is the owner of the patent.
As the owner of the patent, the inventor has the right to prevent others from making, using, selling, offering to sell, or importing the patented invention.
If there are joint inventors, unless there is a contract, each of the inventors has an undivided interest in the entire invention as claimed in the patent.
Each of the joint inventors may practice the invention without consent of the other inventors and without any duty to pay the other inventors a portion of the profits from the exploitation of the patent. There is no fiduciary duty between the joint inventors.
Also, each joint inventor may license the patent without approval of the other inventors and without paying them a share of any royalties received from the licensee.
Because of this, in any situation involving more than one inventor, the inventors should agree by contract how the rights in the patent will be apportioned.
For example, the inventors may agree that all proceeds from licensing the invention will be split regardless of which inventor actually licenses the invention, or that each of the inventors will have separate exclusive rights to the patent in different geographical regions of the territory.
Often, inventors assign their inventions to their corporate or university employers. When this occurs, inventorship and ownership of the patent differs.
Here, the corporate or university assignee, and not the inventors themselves, owns the rights in the patent.
Unless there is an agreement requiring it, the assignee/owner does not have to make any payments to the assignor/inventor for exploiting the patent.
An obligation to assign a patent usually arises when there is a contract between the inventor and the assignee requiring an assignment, such as when a contractor is hired to solve a particular problem, or when certain employer/employee relationships exist.
Generally, an employee must assign an invention to an employer if the employee has a specific contractual obligation to assign or if the employee was hired to invent or is directed by the employer to solve a particular problem.
Although courts have divided on this issue, employees who have been hired to do research in general usually do not have to assign their inventions to their employers. Also, employees who have been hired for purposes other than to do research have no duty to assign their inventions to the employers.
Of course, parties may define their rights by contract. It is a good idea for companies and universities to have contracts in place with their researchers that require assignment of any invention discovered in the course of their employment.
Venture capital funding is increasingly becoming a common capital raising source, and is most widespread in the rapidly evolving technology.
According to Foreign Direct Investments (FDI), Venture Capital Fund’ (VCF) means a Fund registered as a ‘venture capital fund’ under SEBI (Venture Capital Funds) Regulations, 1996.
Venture Capital refers to the money provided by an outside investor to finance a new, growing, or troubled business that are believed to have long-term growth potential.
A significantly high risk is associated with the Venture Capital investment as the company’s future profits and cash flow is uncertain. Capital is invested in exchange for an equity stake in the business rather than given as a loan. Venture Capitalist may exercise some level of control, influence, or participation in the activities of the company.
Depending on the stage of investment, Venture Capital Funds are of 3 types :-
Methods of Venture Capital Financing:-
Equity :– By contributing equity capital, Venture capitalist acquires the status of an owner, and becomes entitled to a share (not more than 49% of total equity capital) in the firm’s profits as well as the losses.
Conditional Loan :– No interest is paid on Conditional loans but they are repayable to the capitalist or the lender in the form of royalty after the venture capital undertaking is able to make revenue. The royalty rate may vary from 2% to 15%, on the basis of factors such as gestation period, external risk and cash flow patterns.
Income note :- If a Venture Capitalist invests in the form of Income Note, the Venture capital firm pays both the royalty and interest but at low rates.Participating Debentures :-
The participating debenture; is an example of innovative financial securities introduced by a few Venture Capitalists.
Such security carries charges in three phases:
Start-up phase– before the venture attains operations to a minimum level, no interest is charged.
Initial Operation phase– A low rate of interest is charged in the initial level of operation.
Full Commercial Operation- Once the venture starts operating on full commercial basis, a high rate of interest is required to be paid.
Take up one idea. Make that one idea your life — think of it, dream of it, live on that idea. Let the brain, muscles, nerves, every part of your body be full of that idea, and just leave every other idea alone. This is the way to success.” – Swami Vivekananda
Running a successful business requires comprehensive business planningand developing solutions to business problems.
What you imagine is what you transpire.
What you believe is what you will achieve
A well-crafted business plan defines the entrepreneur’s vision and can help an entrepreneur to allocate resources appropriately and make good business decisions.
Whether you’re proposing a new initiative within your organization or starting an entirely new company, a good business plan generates enthusiasm for your idea and also boosts your odds of success.
To succeed in life and achieve results, you must understand and master three mighty forces- desire, belief and expectations.The primary purpose of a business plan is to help entrepreneurs gain a deeper understanding of the opportunity they envision.
A business plan includes the following basic elements-
Executive Summary, Company description, Product/Service, Market and Competition, Marketing and Selling strategy, Operating Plan, Management/ Organization, Financing and Supporting documents.
Writing a business plan assists in goal setting and long-term planning. It is important to attract investors as well as employees.
It is an essential part of any loan application.
Every Beginner possesses a great potential to be an expert in his or her chosen field.
To begin with, the executive summary of any business plan is its cornerstone and is very important. It defines what your business does and why. A summary should concisely summarize the technical, marketing, financial, and managerial details of the business. It should convince the reader that the new venture is a worthy investment.
The company description highlights the entrepreneur’s dream, strategy, and goals ranging from the present outlook to future perspective.
How the company will address the needs of the customers as well as employees.The product/service section should stress the characteristics and benefits of the new venture, including its price, innovative, competitionand the market the product/ service will target.
The marketing and selling strategies are the result of a meticulous market analysis. A market analysis forces the entrepreneur to become familiar with all aspects of the target market and provide a competitive edge to the company.
Success is a moving target. Achievement is a single event.
The Operation Planis designed to describe how the business functions on a continuous basics. It highlights the responsibilities of the management team, tasks assigned to each division within the company and the capital and expense requirements related to the operations of the business.
Organization section will describe the company’s legal structure and biographies of the key members.The financial components of a business plan typically include three projections: a balance sheet, an income statement, and a cash-flow analysis.
A balance sheet is a snapshot of the company’s value. An income statement helps to estimate profit or loss over a period of time.
Cash-flow statement indicates revenues, expenses and available cash.There is more than one way to win in life. The key is figuring out your way.
Our team at TCIS, India consists of experienced professional patent researchers, patent strategists, law experts and mediators who are experts and have experience in performing more than 2200+ patent searches in all technological domains.
Our technological THINKING GEEKS experts provide their assistance to gain a clear perspective over technical as well as market difficulties that Your PATENT may face while launching and entering into a country.
We at TCIS, India have a well renowned team of Lawyers of Delhi/ NCR who have vast experience of more than 12++ years. We at TCIS, India have inspiring and tireless mediators who have successfully completed mediation in disputes related to co-founder disputes, company disputes, mediation is website ownership, trademark infringement, commercial disputes, patent infringement, intellectual property disputes, disputes in corporate sectors and trademark commercial disputes.