What is a Patent?

A patent is a legal right granted to an inventor for a unique product or process that provides a new or improved solution to a problem. This right gives the patent holder exclusive control over the use, manufacturing, and commercialization of the invention, preventing others from using it without permission. In return for the patent, the inventor must fully disclose the technical details of the invention to the public, contributing to the advancement of knowledge in the field.

Patents can cover a wide range of innovations, including machines, chemical compositions, processes, and even certain types of software. The patent owner has the ability to license the invention to others, allowing for its commercial use under specific terms, or they can transfer ownership of the patent to another entity. Patents encourage innovation by providing inventors with the incentive of exclusivity, fostering investment in research and development. Once a patent expires, the invention becomes part of the public domain, enabling others to use it freely.