- Legal Protection: Registering a patent provides legal protection for an invention. It gives the patent holder the right to take legal action against anyone who uses, makes, or sells the patented invention without permission.
- Encourages Innovation: Patents encourage innovation by providing inventors with the assurance that their efforts will be protected. This, in turn, fosters economic growth and technological advancement.
- Monetary Benefits: Patents can be valuable assets. They provide the patent holder with the opportunity to capitalize on their invention through licensing, selling, or using it to gain a competitive edge in the market.
- Market Exclusivity: A patent grants the inventor a monopoly over the patented invention for a specified period (typically 20 years). During this time, competitors are barred from producing or selling the same invention, giving the patent holder a competitive advantage.
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About Patent
A patent is a legal document granted by the government that gives an inventor exclusive rights to their invention for a certain period. This exclusivity allows the inventor to control how their invention is made, used, and sold. Patents are a form of intellectual property and are crucial for protecting innovations in various fields.
Importance of Patent Registration
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