Patent means a right granted to the inventor or discoveror of any new and useful process, machine, article of manufacture, or composition of matter, or any new and useful improvement thereof.
Intellectual property rights are also referred to as patents.
Patents prevent others from making, using, selling, offering for sale, or importing the patented invention for the term of the patent. A patent is, a limited property right offered to the inventors in exchange for their agreement to share the details of their inventions with the public. A patent can be sold, licensed, mortgaged, assigned or transferred, given away, or simply abandoned.
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