Patent: Meaning and Definition

What is Patent?

Patent refers to a legal right that is awarded to an inventor, which gives exclusive authority on the application, production, and sale of an invention. The idea behind filing a patent is to secure an innovative concept and technical resolutions against unauthorized use. The inventions are usually patented in case they are novel, useful, and non-obvious. They are applied to products, processes, machines, or technological advancements. The protection of patents lasts in time and involves publicity of the invention. Exclusivity is a way of promoting innovation and research, and also enables inventors to commercially enjoy the benefits of their work through patents.