GENERAL KNOWLEDGE

Detailed explanation-1: -A patent is a private right that is granted by a government authority. It only has a legal effect in the country (or region) in which it is granted. So inventors or companies that want to protect their technology in foreign markets need to seek patent protection for their new technologies in those countries.

Detailed explanation-2: -For example, the inventor might have concealed their awareness of existing inventions (“prior art”) in their field when filing the application, which would negate the patent’s validity. In other situations, a patent might expire when the patent owner does not keep up with the maintenance fees required by the USPTO.

Detailed explanation-3: -A number of different government policies can increase the incentives to innovate, including: guaranteeing intellectual property rights, government assistance with the costs of research and development, and cooperative research ventures between universities and companies.