ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Patent, is a legal document granted by the government giving an inventor the exclusive right to make, use, and sell an invention for a specified number of years. Patents are also available for significant improvements on previously invented items.

Detailed explanation-2: -A patent is the exclusive intellectual property right to an invention of a technical product or process.

Detailed explanation-3: -Overview. A patent grants the patent holder the exclusive right to exclude others from making, using, importing, and selling the patented innovation for a limited period of time.

Detailed explanation-4: -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.

Detailed explanation-5: -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.