Introduction

Having a patent is beneficial in making both a good name as well as to earn a lot of money. Owning a patent to an object essentially means that no one in the world can make the same product as yours legally and can make money off of it without your concern. You can grant your patent rights to someone too. This is usually done for a lot of money if your idea is really good. There is no specific field of education that you need to pursue in order to get a patent for an idea. Rather you do not need to have a formal education too to have a patent to your name.

For example, Steve Jobs was a college dropout and still had several patents to his name.

Nature of Work

You can apply for a patent irrespective of the field that you are working in. If you are an automobile engineer and come up with an innovative idea in the field of automobiles, you can get a patent on it so that if any company wants to implement your technology in their vehicle they will have to pay you royalty. Either the company can choose to pay you a royalty for your idea or it can buy the patent rights from you.

It is not easy for a person to just come across a great idea that can be patented. In the current generation of engineering, creativity has lost its way and usually finds its way to the hearts and minds of students. Also, the world is moving at a really fast pace and there is a good chance that your innovative idea is already thought and patented by someone else. In order to land on a truly novel idea, it is important for you to conduct enough research and be well aware of the field you are doing research in. For this, a formal education is very helpful as it helps in the creation of the base of foundation that is necessary to conduct such a research

Demand for Profession

As mentioned earlier, there is a severe lack of individuals who can think of novel ways to do things and do it creatively. Therefore, there is a very good demand for individuals who can be a part of the company and be creative enough to come up with an idea that can benefit the company as well as the community as a whole.

The demand for innovative ideas is ever increasing in all the fields. With the interconnectivity of the various fields of engineering, it is possible for the individual to develop multidisciplinary skills. When an individual does so, he/she will be able to make edits as well as modifications in any engineering field. For example, if you are an automobile engineer with knowledge in the field of computer science and coding, you will be able to develop smarter ways to communicate with your vehicle.

Salary/Perk Packages

A company can either pay you for the patent that you own or can give you royalty in order to use your idea in its products. The fee that you receive is often handsome and mostly depends upon how innovative your idea is and to what extent can the company use it in its products.

So if you want to earn money by sitting idle for the rest of your life, you need to work twice as hard as others right now to come up with a novel idea that you can sell.

Eligibility criteria

There are no fixed criteria for eligibility in the patent field. You can be an uneducated person too and still get a patent in your name if you have come up with an idea that is truly innovative and novel. However, as mentioned earlier, formal education does help a lot in terms of conducting the necessary research and have a knowledge base that will allow you to identify your idea as a novel one.

Conclusion

The patent field of work in India is certainly something that every college student aspires of but only a few reach the level. The idea of a patent is once in a generation type of idea that anyone can achieve with hard work and a lot of dedicated research.