ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Generally speaking, a patentee acquires the right, enforceable by law, to decide who shall and who shall not exploit his patented invention. The patentee can prevent others from making, using, offering for sale, selling or importing for those purposes the patented invention without the patentee’s permission.

Detailed explanation-2: -In India, the patent holder is honored with the right to use, sell, manufacture and distribute the patented product. In case the invention is a production process, the owner of the patent reserves the right to share the procedure with another person. Moreover, the agent of the patent holder can also enforce this right.

Detailed explanation-3: -The three types of patents are utility patents, design patents, and plant patents. Utility patents are issued for inventions that are novel and useful. Design patents protect the design or image of a product. Plant patents are issued to applicants for plants that can reproduce.

Detailed explanation-4: -Utility patent. This is what most people think of when they think about a patent. Provisional patent. Design patent. Plant patent. 25-Jan-2023