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In absence of physical boundaries, knowledge and idea free flows, uninterrupted and unhindered, from one place to the other place. An incident in one corner of the world affects people residing in any other part of the world.
A paten refers to a set of rights that are given to an inventor by a state for a fixed duration. The fixed period is generally 20 years and these exclusive rights can be licenced, sold, mortgaged, given away, transferred or simply abandoned In exchange the inventor should disclose or share his or her invention with the public.
The Cost of Getting A Patent
A patent protects your valuable invention from unauthorized usage. Just imagine you doing all the hard work and someone else taking the credit. You can avoid such a situation by applying for a patent. Once you obtain a patent no one can steal or copy your patent. A patent is nothing but a set of rights that are given by the government in order to protect your invention from any unauthorized usage. A person who disobeys the patent laws is likely to go to jail.