Home Entrepreneurship Understanding Patent System of Enterprise

Understanding Patent System of Enterprise

by Olufisayo
Patent System of Enterprise

This is going to be a short but informative post on the patent system of enterprises.

A patent is a set of exclusive rights granted by a national government to an inventor or their assignee for a limited period of time in exchange for public disclosure of an invention.

The procedure for granting patents, the requirements placed on the patentee, and the extent of the exclusive rights vary widely between countries according to national laws and international agreements.

Typically, however, a patent application must include one or more claims defining the invention which must be new, non-obvious; and useful or industrially applicable. In many countries, certain subject areas are excluded from patents, such as business methods and mental acts.

The exclusive right granted to a patentee in most countries is the right to prevent others from making, using, selling, or distributing the patented invention without permission. It is just a right to prevent others use.

A patent does not give the proprietor of the patent the right to use the patented invention, should it fall within the scope of an earlier patent.

Under the World Trade Organization’s (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights, patents should be available in WTO member states for any inventions, in all fields of technology and the term of protection available should be a minimum of twenty years.

Photo by Clem Onojeghuo from Pexels

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