ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A patent is an exclusive right granted for an invention, which is a product or a process that provides, in general, a new way of doing something, or offers a new technical solution to a problem. To get a patent, technical information about the invention must be disclosed to the public in a patent application.

Detailed explanation-2: -A patent is an exclusive right granted for a specified period (generally 20 years) for a new way of doing something or a new technical solution to a problem-an invention.

Detailed explanation-3: -A patent is the exclusive intellectual property right to an invention of a technical product or process.

Detailed explanation-4: -A patent is an exclusive right granted for a new, inventive, & useful product. It can take the form of a new product, process or technical improvement to existing invention.

Detailed explanation-5: -Exclusive rights: Patents provide you with an exclusive right to prevent or stop others from commercially exploiting an invention for twenty years from the date of filing of the patent application.