A patent is a form of intellectual property that gives its owner the legal right to exclude others from making, using, selling, and importing an invention for a limited period of years, in exchange for publishing an enabling public disclosure of the invention. In most countries patent rights fall under civil law and the patent holder needs to sue someone infringing the patent in order to enforce his or her rights.
- Valuable Asset: Patent endures creation of intangible assets which can be sold, assigned & authorized to use.
- Protection Like: Company’s other tangible assets, a patent protects owner’s invention & its process from infringement.
- Low-Cost Registration: As a comparison to its driven benefits cost of patent registration is very low.
- Patent Globally: Some foreign countries require patent registration mandatory in inventor’s home country before apply in their country.
- Validity Period: Patent registration valid for 20 years and can be renewed again.