What is a Patent?

"A patent is an agreement between an inventor and the government: the inventor teaches the public how to make and use the invention and, in return, is given the right to preclude the public from making, using or selling the invention for a [certain] period."

- Michael Lechter, Successful Patenting for Engineers and Scientists, IEEE Press, 1995.]

The purpose of the patent system is to promote technological innovation for the benefit of society as a whole. The alternative to patents is to maintain trade secrets. However, as inventions may be evident in the products in which they are used, they could be readily copied. Patents allow new inventions to be publicly discussed even before the products reach the market. At the same time, patents protect the proprietary rights of the inventor. The patent system encourages innovation, by allowing competitors to consider alternatives or improvements, which may in turn be patentable.

A patent application must contain all of the information necessary to practice or implement the invention. When the patent is published, this information becomes available to the industry. The patent application is examined by the patent office in each country to ensure that:

• the invention is new and useful,
• the invention is novel (i.e. has not been published previously), and
• the invention is not an obvious extension or combination of known techniques.

If an application meets these criteria, a patent will be granted, typically within 2-3 years from filing the application.

Patents are typically granted for a period of 20 years. During this time, no one other than the inventor or assignee is permitted to manufacture, sell or use products incorporating the patented invention in the country in which the patent is issued. The inventor may choose to grant rights to other parties to use the patent in exchange for consideration such as royalties, or a cross license to patents owned by another party.

For more information on MOSAID patent licensing, please contact us.