Correct Answer - Option 1 : 1, 2, 3 and 4
The salient features of the Patent Act 1970 are:
It codifies inventions which are not patentable: The term “invention means a new product or process involving an inventive step and capable of application”. The invention should be of absolute novelty as neither it has been used nor published in any part of the world.
It provides for endorsement of patent with the words 'license of right': Where a patent has been endorsed with the words 'Licenses of right', any person who is interested in working the patented invention in India may require the patentee to grant him a license for the purpose on such terms as may be mutually agreed upon, notwithstanding that he is already the holder of a license under the patent.
It provides for revocation of patents in public interest: When a patent has been sealed or granted, it is not always the case that the patent shall stay unhindered by any third party till the life of the patent. The patent can be challenged by certain people on different grounds, and a method to cause the same is by filing a revocation petition/ post-grant opposition proceeding.
It has provision for validity period also for the patents: A patent is a statutory right for an invention granted for a limited period of time to the patentee by the Government, in exchange of full disclosure of his invention for excluding others, from making, using, selling, importing the patented product or process for producing that product for those purposes without his consent.
