Can be stated as an service that is granted by the government and the creator of such patent is conferred with the sole rights in regards with the usage, making and the selling of the invention. After a certain thing is invented the creator of this invention, needs to go through a procedure to get this patent on a technology or a product. There are various steps of getting a patent and numerous reasons for getting the same.
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.
Patent has helped many discoverer and have provided them assurance that their work will be recognized and the hard work which they are putting in won’t go wasted. It is a known fact that these inventors toil day and night and finally come out with a new concept but there are always someone who is always ready to grab this new concept for their own benefit.