Patent Filing: Individual name Vs Business name

One major source of concern for many patent applicants is whether the patent application should be filed in the name of the individual or in the name of the business.

It is determined by the Applicant's needs. Individual and business names both have advantages and disadvantages. As a result, the decision must be made after carefully weighing the alternatives.

There are four major factors that influence the decision to file a "patent application" in an individual's or a business's name.

1. Cost: The cost of filing a patent application in India is significantly lower for an individual than for a company. Most patent applicants prioritise cost over all else. They want to keep the cost of filing a patent to a minimum. If cost is the only consideration, it is preferable to file the patent application in the individual's name. There is no need to be concerned for qualified start-ups because the cost of patent filing is the same as it is for an individual. Please see our blog post on patent fees to understand the cost difference between a patent application filed by an individual and a patent application filed by a company.

2. Investor’s requirements: If your company is backed by investors, the requirement for filing a patent application is determined by them. Typically, investors prefer patents to be issued in the name of the company rather than an individual.

3. Economy: A patent supported by a corporation is always more credible than a patent supported by an individual. As a result, a patent registered in a company's name will generate more revenue than a patent registered in a person's name. 2.Investor requirements: If your company is backed by investors, patent filing is dependent on their needs. Typically, investors prefer patents to be issued in the name of the company rather than an individual.

4. Patent Infringement: If you infringe on a patent, the remedy for infringement is damages or an account of profits. If the patent was owned by a company, the damages awarded will be much higher than if the patent was owned by an individual.