Patent and Utility Model

What is a Patent?

A patent is a protection that allows inventors to safeguard their inventions and grants them exclusive rights to produce, use, sell, and import their inventions for a specific period. The exercise of all rights arising from an invention is only possible through the registration process.

Benefits of Patent Registration

A patent provides exclusive legal rights concerning the use of an invention, preventing others from copying it and offering the owner the best opportunity to benefit from the invention. An inventor does not need a patent to exploit an invention; however, without a patent, the inventor cannot prevent others from copying the invention.

Patent registration prevents others from infringing on the inventor's exclusive rights. This right also places the inventor in a strong position at the negotiating table for licensing agreements when they decide to license their product. In general, licensing means allowing someone else to manufacture and sell the invention in the market while sharing a portion of the royalties with the inventor.