Thu. Feb 22nd, 2024

Business News on the Fly

Protecting Patents: A Comprehensive Guide

A patent is a set of exclusive rights granted by the government to an inventor to make, use, or sell an invention. These rights are only given if it has not been previously patented.

How to protect patents? The invention must also be novel and non-obvious to qualify for a patent. When you apply for patents, three types can be applied for utility (for inventions), design (for how something looks), and plant (used when inventing how things grow).
There are many benefits to applying for a patent. One significant benefit is that you need not make your product apply for patents, which saves money and time when developing it further. A second advantage of protecting how an invention is made or how something works is that the person who holds the rights will control how it’s used by others and can license their technology out if they choose to do so. Last but certainly not least, having ownership over one’s creative work provides them with peace of mind knowing they’ve created something new and unique on their merit rather than relying on someone else’s idea without permission.
We hope this information has been helpful to you.