Dr Muskan Kaur

GE: DYNAMICS OF NEW

VENTURE UNIT 3:

A PESTEL analysis is a framework or tool used by marketers to analyze and monitor the
macro-environmental (external marketing environment) factors that have an impact on
an organization, company, or industry.

https://www.youtube.com/watch?v=Ke2AwS6fWp4

https://corporatefinanceinstitute.com/resources/knowledge/strategy/pestel-analysis/
 UNIT: 4

Intellectual Property Protection is protection for inventions, literary and artistic works,
symbols, names, and images created by the mind. Learn how you can protect your intellectual
property by using: Patents, Trademarks, Trade Secrets, and Copyrights.

COMPLETE PDF: https://www.wipo.int/edocs/pubdocs/en/wipo_pub_450_2020.pdf

What inventions are patentable

For any asset or an invention to qualify for a patent, it must meet three basic requirements:
 It must be novel and one of its kind. This means that the particular invention
must be new and there should not be any existential trace of it
 It must be unique in itself. An improvement in the current technology by an
individual cannot be patented
 It must be useful. It should add value to the life of the common man and it must
not benefit or support the use of illegal things or must not be used for any
immoral purpose
Some types of inventions (or discoveries) like Issac Newton’s law of gravity or Albert
Einstein’s formula for relativity do not qualify to for this. Simply put, no one can obtain a
patent onor
nature a law
any ofscientific
principle.
What inventions are non-patentable

Even though the idea of a patent is to safeguard the maker’s there are certain things
that do not qualify for this according to the Indian law (section 3 and 5 of Indian Patents Act,
1970):
 Any method of agriculture or horticulture
 Any process under the bracket of medicinal, surgical, curative or other treatment
of human being, animals or plants
 An upgrade or discovery of anything that relates to atomic energy
 Discovery of unique machine, apparatus or a process
[Also Read Best Way For Indian Freelancers To Receive Payments In 2020]

How to get a patent in India

In India, the Patents Act is the central body dealing with the filing and regulation of an
existing and new patent. This Act suggests that either the inventor, his assignee or one of his
legal representatives (in case the inventor is deceased) can apply for one in the head office of
Indian Patent Office or the branches of the office, depending on the jurisdiction of the
applicant.
In case the applicant is not an Indian citizen, he or she must file the application in their
respective jurisdiction (where the address for service of the applicant is located).
Steps for application of patent

You can choose to apply for a patent all by yourself or take help from registered agents. When
it comes to the cost of getting a patent, the following two elements come into the picture:
 Government fees for forms and renewals
 If you choose to have an agent, then the charges for the professional
It is always recommended to get a patent through a registered agent. Here are the steps
required to apply for a patent:

Step 01: Invention disclosure

The first step is to disclose your invention to the professional. This is done by signing a non-
disclosure agreement.
Pro-tip: It is recommended to submit each known fact about your invention. Do not hold
anything back.

Step 02: Patentability search

Usually, a professional charges a fee (approx INR 10,000 to INR 20,000) at this step. At this
stage, your professional performs extensive research for prior evidence in all the possible
databases. Further, he or she builds a patentability search report based on your invention.

Step 03: Decision to file an application for patent

This is where the actual process begins. After detailed research about (any) existing history of
your invention, you can decide if you want to go ahead with the patent application filing.
Please note: Your invention must have an ‘inventive step’ as compared with existing prior art
pieces to qualify for a patent. It must have either ‘technical advanced’ or ‘economically
significant’ or both, over any existing piece of arts.
The step where you decide to go ahead with the filing process by writing an application is
called patent drafting.

Step 04: Patent drafting

You can choose to draft the application on your own or take a professional’s help to do this.
If you choose to take help, you might have to pay somewhere around INR 20,000 to INR
30,000. Please note: This is one of the most crucial steps of the entire process. It requires both
technical and legal understanding. If not drafted the right way, all the efforts you out in gets
wasted. Hence it’s a good idea to take professional help here.

Step 05: Filing the patent application

After you are done with a review of your patent draft and are satisfied with the scope and
details, you are ready to file for a patent.
You can file the patent application in a prescribed manner with appropriate forms with fees.
You need to pay fees of INR 1,600 or 4,000 or 8,000 (based on the type of application) while
submitting the patent application in the patent office. If you do not file a request for early
publication, the patent application will be published on expiry of 18 months.

Step 06: Request for examination

This is the step where the applicant is required to request the Indian patent office to examine
your patent application, within 48 hours. Request for examination fees ranges from INR
4,000 to INR 20,000 (based on the type of applicant).

Step 07: Responding to objections (if any)

The draft and the report submitted to the officers in the patent office are thoroughly examined
at this step. At this step, there is a chance for the inventor to communicate his novelty or
inventive step over any other piece of art found during the assessment. If all the things are
well clarified and solved, the patent application is almost ready to come to action.

Step 08: Grant of patent

If the application meets all the prescribed requirements, it is placed in order for the grant.
Usually, the final grant of the application is notified through a journal that is published

Step 09: Renewal of your patent

Usually, a patent is in force for 20 years. On completion of 20 years, the owner is required to
renew the patent by paying a small fee.

Benefits of getting a patent

 Prevents theft of your invention

 The freedom of exclusivity
 Easy to build a merchandise and commercialize
 Higher market share since your idea becomes a brand
 More monetary value and higher profit margins
Although the entire process of filing a patent is long and complex, one must remember the
importance it has. With digital advancements, it is probable that the process might get
simplified and easy.
Having a patent in place ensures that no individual can claim rights over your invention. If at
all there happens to be an infringement, you can take help from legal bodies and avoid the
problems that can prove to be a hurdle in your growth.

The Great Eight – Eight Wonders of the World of Patents

 The Lightbulb. The electric lightbulb is perhaps one of the most famous patented
inventions known to humankind. ...
 The Internal Combustion Engine. ...

 The Telephone. ...

 The Computer. ...

 Bluetooth. ...

 The Maglev. ...

 The FireEye Malware System. ...

 The Google PageRank.

Which Indian company has highest patents?

The top filers included Reliance Industries Ltd, Sun Pharma, Welspun and Hindustan
Petroleum Corporation Ltd. The report said AI continues to lead in terms of total patents filed
under emerging technology, while cloud computing patents led in terms of growth.

Does Coke have a patent?

Coca-Cola's patent application number 29/436,363, simply titled “Bottle,” was granted after
overcoming three Office Actions over the course of four-and-a-half years. This patent was
granted on September 5, 2017

Is Bluetooth a patent?
The patent application was filed in September 1997 and was issued by the U.S. Patent and
Trademark Office in July 2003; it lists Haartsen as inventor and Ericsson as assignee.
Bluetooth SIG formed in 1998 as a coalition of five promoter companies: Ericsson, Intel,
Nokia, Toshiba and IBM.

Does Facebook have any patents?

Social media giant Facebook was awarded 989 patents in 2019, putting it higher on the
Intellectual Property Owners Association's list of the Top 300 organizations granted U.S.
patents, according to a Tuesday (Jan. 14) report by Bloomberg.15-Jan-2020

DF BW PATENT COPYRIGHT AND TRADEMARK

https://www.legalwiz.in/blog/difference-between-trademark-copyright-patent-ipr-in-india

Trademark Process: https://www.youtube.com/watch?v=_ouHr98kTf8

https://www.lendio.com/blog/patents-copyrights- trademarks/#:~:text=A%20copyright%20protects
%20original%20works,matter%20(such%20a s%20medicines).

VIDEO: https://copyrightalliance.org/faqs/difference-copyright-patent-trademark/

TRADEMARK REGISTRATION PROCESS

COPYRIGHT REGISTRATION PROCESS

IMP QUES: SCENARIO BASED QUESTIONS; HOTS; CASELETS

https://www.intepat.com/blog/copyright/5-copyright-cases-2019-india/

PREPRATION OF PROJECT REPORT FOR PROPOSED VENTURE

https://www.youtube.com/watch?v=dzQxOmMY1iY

Project Report Format For New Business

The process of establishing a new business is preceded by the resolution to
select entrepreneurship as an occupation. This calls for recognizing lucrative
business ideas upon a meticulous evaluation of the entrepreneurial prospects.
Creation of business ideas is not sufficient, they must be tested on techno-
fiscal, economic
and authorized

A project report for new business conducts a profound road map

(comprehensive and concrete) for effectual business venture. It discusses
whether the business requires finance or not, the challenging risks, several
problems en route, etc. Hence it becomes vital for every new business to prepare
a project report, to acquaint them on forewarning issues.
Project report for New Business - Format
Below is the sequence of standard format which should be followed while
preparing new business project report:
1. Background of the business
2. Customer's profile
3. Long and short term Corporate Objectives
o To perform a viability assessment of the proposed new business
ideas in terms of marketability, technical feasibility, financing
and authorities
o To be able to prepare a relevant business plan
o To recognize fundamental startup issues
4. Market Analysis
o Brief discussion on the type of market, chief influencers,
players, etc
o Market description
o Reasons for starting business in a particular market
o Target clients
o Advantages of the services offered by the new business
o Market consumption patterns
o Past and existing supply location
o Production prospects and limitations
o Exports and Imports
o Price structure
o Flexibility of demand
o Client behavior, purposes, intentions, impetus, approaches,
inclinations and needs
o Supply network and marketing rules formulated by the
government
o Government and technical limitations imposed on the promotion
of the product
5. Financial Assessment
o Investment expenditure and value of the entire project
o Methods of investment
o Anticipated productivity
o Money flows of the project report
 o Investment value evaluated in context of different points of merit
o Estimated financial
ranking 6. Marketing Assessment
o Product
o Price
o Place
o Promotion
7. Operational Plan
o Business models
o Production of goods and services
8. Financial Plan
9. Management Structure
10.Business structure (Ownership, staff,
etc) 11.SWOT Analysis
o Significant Success aspects depending on Strengths, Weaknesses,
Opportunities and Threats to be faced by the firm in future
12. Appendices
o Break-Even Assessment: POINT OF SALE WHERE THE

SITUATION IS NO PROFIT, NO LOSS OR PROFIT=LOSS

o Profit and Loss Synopsis: INCOME STATEMENT, GAIN
AND EXP: PROFIT OR LOSS.
o Fund Flow Summary: CASH INFLOWS OUTFLOWS
o
Tips for designing an effectual Project report for New Business
While designing a project report for new business it is vital to keep the
following points in consideration:

Target Market:
While making a new business project report it is significant to keep in mind the
target market. For instance, if you are preparing a report on debt financing, the
focus should be on the assurance that the debt can be reimbursed by the
company and not on the huge revenues that the firm has accrued.

Market approach:
The first approach towards preparing business report should be developing and
assisting powerful business strategy. The report should describe the economic
trends, clients and players. It should also explain on how to perform the chosen
approach, the marketing of its products and functional competence.

Market Rivalry:
An industrialist should recognize at what point of time the firm will perform
similar activities and when it will do things another way, in order to identify its
strength and drawbacks. Concentrate on strategies which present you differently
from your competitors, market products differently using various channels, etc.

Be practical:
Catalog realistic plans, for there are many unanticipated expenses, price
overruns, issues that have been neglected, etc. Hence, predict future trends
realistically to make a powerful project report.

https://business.mapsofindia.com/project-report/for-new-business.html

PROJECT PLANNING AND SCHEDULING IN NEW BUSINESSES

https://www.educba.com/project-planning-and-scheduling/
How is PERT CPM used in business strategy?
whereas CPM is more focused on “hard deadlines.” PERT focuses more on the relationship
between cost and time, whereas CPM focuses more on cost. CPM emphasizes minimizing
time wherever possible, but PERT uses the concept of slack to give a more flexible time
frame for the project's tasks and milestones.

What types of projects would favor PERT over CPM?

PERT is best for research and development projects, but CPM is for non-research projects
like construction projects. Crashing is a compression technique applied to CPM, to shorten
the project duration, along with the least additional cost. The crashing concept is not
applicable to PERT.

What is PERT and CPM with example?

PERT is that technique of project management which is used to manage uncertain (i.e., time
is not known) activities of any project. CPM is that technique of project management which
is used to manage only certain (i.e., time is known) activities of any project.

https://www.mindtools.com/pages/article/critical-path-analysis.htm
FEASIBILITY STUDIES: GOOD DETAILED VIDEO:
https://www.projectmanager.com/training/how-to-conduct-a-feasibility-study
CRITICAL PATH:
https://www.wrike.com/project-management-guide/faq/how- to-calculate-
critical-path-in-project-management/
https://www.wrike.com/project-management-guide/faq/how-to-calculate-
critical-path-in-project-management/
PERT:
https://acqnotes.com/acqnote/tasks/pert-analysis

Detailed PDF PERT and CPM

https://www.srividyaengg.ac.in/coursematerial/CSE/104745.pdf