patent

A patent is a form of registered intellectual property protection for inventions that grants a patent monopoly rights to the inventor.

In order to obtain a patent, the applicant must disclose the invention and clearly specify the limits of the monopoly. The invention must qualify as a patentable invention, that is, satisfy the requirements of novelty; contain an inventive step with reference to the prior art; be capable of industrial application and not be excluded from patentability. Furthermore the invention must be capable of industrial application. The invention must not fall into the subject matter excluded from patent protection.

Patents may be obtained from the UK Intellectual Property Office or the European Patent Office.

Usage: The patent formed the basis of a strong competitive advantage for the company.

Related Words: patentable invention; entitlement to patents; novelty; inventive step; obviousness; industrial application; revocation of patents; intellectual property rights.