What is a Patent?
A Patent is a form of IP protection granted to inventors for their novel and useful inventions. This exclusive right allows inventors to prevent others from making, using, or selling their invention without permission for a specified period, typically 20 years from the filing date. Unlike Trademarks that focus on brand identity, patents are geared towards encouraging innovation by providing inventors with a limited monopoly on their invention to the public in exchange for the exclusive rights granted. This disclosure contributes to the pool of knowledge and advancements in technology, promoting progress across various industries.
Features of Patent:
- Invention Protection: Patents protect new inventions, processes, methods, machines, compositions of matter, or improvements thereof that are new, useful, and non-obvious.
- Exclusive Rights: Patent holders have the exclusive right to prevent others from making, using, selling, offering for sale, or importing the patented invention without permission for a limited period, typically 20 years from the filing date of the patent application.
- Patentability Requirements: To obtain a patent, an invention must meet specific criteria, including innovative (not previously disclosed), inventive step (non-obvious to a person skilled in the relevant field), and industrial applicability (capable of being made or used in an industry).
- Public Disclosure: In exchange for patent protection, inventors must disclose their invention to the public through a patent application, providing detailed descriptions, claims, and drawings of the invention.
- Territorial Protection: Patent rights are territorial and apply only within the jurisdiction where the patent is granted. Inventors must file separate patent applications in each country or region where they seek protection.
- Limited Duration: Patent protection lasts for a limited period, after which the invention enters the public domain, allowing others to freely use and benefit from it.
Difference between Trademark and Patent
Although they have different functions, patents and trademarks are both types of intellectual property protection. A trademark is a distinguishing sign, symbol, or expression that is used to identify goods or services of different parties; whereas, a patent gives the owner of a new invention exclusive rights, prohibiting others from creating, utilizing, or commercializing the idea without authorization.