Government Acquisition of Invention - S102 (4/5)

In this informative video, we explore Section 102 of the Indian Patents Act which empowers the central government to acquire an invention or a granted patent from an applicant/patentee for the purpose of public interest. We delve into the process through which the central government can acquire the rights around an invention and the compensation that may be paid to the patentee for the same.
The video begins by introducing Section 102 of the Indian Patents Act and explaining its relevance in the Indian patent landscape. We then explore the circumstances under which the central government can exercise its power to acquire an invention or a granted patent from an applicant/patentee, highlighting the importance of public interest in such cases.
Moving on, the video provides an in-depth understanding of the process through which the central government can acquire an invention, covering the necessary steps that need to be followed. This includes the issuance of a notice by the government, the opportunity for the patentee to represent their case, and the transfer of rights to the government.
Finally, the video touches upon the compensation that may be paid to the patentee for the invention/patent, discussing the factors that are taken into consideration while determining the amount of compensation. We also highlight some of the recent examples where the central government has exercised its power under Section 102 of the Indian Patents Act.
In conclusion, this video provides a comprehensive overview of Section 102 of the Indian Patents Act, its relevance, and the process involved in the acquisition of inventions by the central government for the purpose of public interest. This video is a must-watch for anyone interested in Indian patent law and the role of the government in promoting public interest.
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