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What is a Patent?



A patent is part of the Intellectual Property assets (intangibles) of the owner.
It is an exclusive right (that allows the owner to exclude others) granted to the owner in a limited territory for a limited period of time, in exchange for disclosure of the invention.

The purpose of the patent system is to promote innovation by remunerating the patentee, while allowing further development on the basis of early disclosure of the invention.