ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Copyrights. Patents are legal rights issued to inventors to protect their inventions for a certain time, usually 20 years. 9 They exclude others from reproducing, using, or profiting from it without the expressed permission of the patent owner.

Detailed explanation-2: -A patent is an exclusive right granted by a government 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. A national or regional patent office grants a patent.

Detailed explanation-3: -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-4: -A patent is an exclusive right that allows the inventor to exclude others from making, using, or selling the product of his invention during the life of the patent. Patent owners may also give permission to, or license, other parties to use their inventions on mutually agreed terms.

Detailed explanation-5: -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.