Patent

Patents are the legal instruments that safeguard innovative ideas from being copied or exploited without permission. A patent is granted for an invention that is new, involves an inventive step, and is capable of industrial application. It provides the inventor with exclusive rights to manufacture, sell, and use the invention, ensuring that others cannot profit from it without consent. Patents encourage research and development by allowing inventors and businesses to recover their investments and gain a competitive edge in the market.From pharmaceuticals and engineering solutions to software and technology, patents play a crucial role in shaping modern industries and fostering innovation.

Benefits:

Provides exclusive rights to the inventor for commercial use.
Encourages technological advancement and investment in R&D.
Increases the valuation of businesses through intellectual property assets.
Enables licensing and technology transfer for revenue generation.
Offers legal remedies against unauthorized use of the invention.

Duration:

A patent is valid for 20 years from the date of filing, subject to annual renewal fees.

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