The acquisition of patent is not a mandatory procedure, i.e. the owner or the creator of the invention (utility model) can produce it without obtaining the patent. However,in such a case there is a threat of unauthorized exploitation of the invention (utility model) by the third parties. The lack of document certifying the exclusive rights on the invention (utility model) means that its owner will have difficulties with protecting his rights and, moreover, prohibiting the unlawful exploitation of his invention (utility model).
1. Exclusive Right of Exploitation
The patent on an invention (utility model) makes its holder the owner of the exclusive rights on exploitation of the invention (utility model), i.e. any use of an invention (utility model) without the permit of the patent holder is unlawful and envokes liability under the relevant national laws.
2. Effective assets’ investment
The rights on industrial design, as any other intellectual property rights, have their value. Such value may increase considerably with the growth of demand on the certain techical knowledge.
3. Sale Item (Lease Item)
The rights on invention (utility model) can serve as an item offered for sale or temporary use (lease), including the use under the franchising contracs. By means of concluding the contracts on the transfer of rights or the licensing contracts, the owner of the exclusive rights can gain the considerable economic profit, even if he does not exploit the design personally.
4. Intangible Assets in Company’s Staturory Fund or in Company’s financial statements
According to the 8th Accounting Standard, the rights on designs are included in the group of intangible assets. Accordingly, the value of the invention (utility model) can be included in the company’s financial statements or become a capital contribution in statutory fund, on the moment of the company’s registration.