What Is Patent?

A patent is a form of intellectual property right that provides exclusive legal protection for new inventions. It is granted by a government authority, such as a patent office, and gives the patent holder the right to prevent others from making, using, selling, or importing the patented invention without permission.

A patent is typically granted for a limited period of time, generally 20 years from the date of filing, during which the patent holder has the exclusive right to exploit and commercialise the invention. In return for this exclusive right, the patent holder is required to disclose the details of the invention in a patent application, which becomes publicly available.

To be eligible for a patent, an invention must meet certain criteria, including being novel (new), non-obvious, and capable of industrial application. Patents can cover a wide range of inventions, including new products, processes, methods, machines, and compositions of matter.

Patents play a crucial role in promoting innovation and encouraging inventors to disclose their inventions to the public. They provide legal protection and economic incentives for inventors to invest in research and development, as well as create a competitive advantage in the marketplace.