A patent is an agreement or right where the state gives a monopoly on manufacture, use and trade for up to twenty years. In return, the owner gives certain technical information to the public sufficient for a skilled person to recreate the invention.
Reasons for patenting an invention
- Patents prevent individuals from using your invention without your consent.
- Patents provide rewards to inventors in the form of recognition for their work and material or monetary rewards for commercially successful inventions.
- The spur created by these patents promotes innovation, which in turn improves the quality of human life.
- The information provided by patent owners enhances the body of technical knowledge in the world, thereby encouraging further creativity and innovation and inspiring future generations.