The inventor or person applying for a patent is known as the applicant. We illustrate and analyze several successful approaches to obtaining IP protection for natural products.It is possible and it's called drug repurposing. You can apply for a method of use patent where you claim a novel use for an existing drug. In a patent license agreement, the patent owner grants another the right to use, make, or sell the patented invention without worrying about infringement. The purpose of this guide is to provide you with basic information about filing a utility patent application with the USPTO. Unnecessary use of compounded drugs may expose patients to potentially serious health risks. Yes, it is possible to patent a new use for a known drug in few countries but in India its a non patentable subject matter. In a patent license agreement, the patent owner grants another the right to use, make, or sell the patented invention without worrying about infringement. The patent term for design patents in the United States is 15 years from the date of the grant.