PATENT Flashcards

(3 cards)

1
Q

WHAT IS A PATENT?

A

Grants company exclusive rights to technical invention, preventing others from making, using, selling, or importing the same device without permission.

Protection 20 years

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2
Q

What protection a patent can provide?

A

Company is the only seller

Allows licensing or selling the patent for additional income.

Stops copycats

Protects investment

Enhancing reputation and attracting partners.

Increases investor confidence, reducing risk.

20 years of protection, allowing market dominance.

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3
Q

How do I apply for a patent?

A

A patent application will be about ideas behind the product, such as how it works, what it does, and why.

Must show the idea is new and original.

Employing a patent attorney is often recommended for this process.

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