The discovery of a product or process is called
What is called the discovery of a product or process?
The discovery of a product or process is called Invention and the invention is related to any improvement, discovery, implementation, apparatus, compound, process, or composition, whether or not reduced to practice, patentable, and convinced by the executive. The invention can be presented by any team of the company that is, directly and indirectly, related to the business, technology, product, and science of the company. The executives of the company will keep the invention on behalf of the company with complete, authentic, and accurate accounts, records, data, and notes of every invention. Also, the records related to the invention will be the property of the company.
According to this, the executive will comply with the right direction of the company and apply the invention for the betterment. For this purpose, the executive will comply concerning the manner and form of keeping the invention. Another point is that each invention made by the company is considered the sole and exclusive property of the company. For this purpose, the executive will make a report according to the request of the company. It can be done by making an application in due form for USA letters or foreign letters patents. After this, the executive will assign and transfer all rights to the company with proper title and interest of the invention with its patent and patent applications. Furthermore, the executive will also agree to cooperate with all actions necessary to continue the retention and renewal of the patent at the required time. For completing all requirements of the invention and patent, the company will pay all expenses.
If the executive of the company is terminated, then the executive has no right to file any application regarding a patent on any invention on the behalf of the company. The executive will only allow submitting a patent about the invention made by the company when he is considered a part of the company.