patents
Definition
A patent is a government-granted right that gives an inventor the exclusive ability to make, sell, or use their invention for a limited period of time, typically 20 years. Think of it as a temporary monopoly that rewards you for sharing your invention with the world by stopping competitors from copying it.
Example
If you invent a new type of bottle cap that keeps drinks fresher longer, you could patent it so no other company can manufacture or sell that same design without your permission.
Watch Out
Patents are only protected in the country where you file, so if you want protection in multiple countries, you need to file separately in each one, which gets expensive fast.
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This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.