Patent
A patent is a set of exclusive rights granted by a state or national government to an inventor or his/her assignee for a limited period of time in exchange for a public disclosure of an invention.
The procedure for granting patents, the requirements placed on the patentee, and the extent of the exclusive rights vary widely between countries according to national laws and international agreements. Typically, however, a patent application must include one or more claims defining the invention which must be new, inventive, and useful or industrially applicable. In many countries, certain subject areas are excluded from patents, such as business methods and mental acts. The exclusive right granted to a patentee in most countries is the right to prevent others from making, using, selling, or distributing the patented invention without permission.
Read more about this topic: Government-granted Monopoly
Famous quotes containing the word patent:
“This is the patent age of new inventions
For killing bodies, and for saving souls,
All propagated with the best intentions.”
—George Gordon Noel Byron (1788–1824)
“There is a patent office at the seat of government of the universe, whose managers are as much interested in the dispersion of seeds as anybody at Washington can be, and their operations are infinitely more extensive and regular.”
—Henry David Thoreau (1817–1862)
“The cigar-box which the European calls a “lift” needs but to be compared with our elevators to be appreciated. The lift stops to reflect between floors. That is all right in a hearse, but not in elevators. The American elevator acts like the man’s patent purge—it works”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)