Recently we have been the eyewitnesses of several patent war between top technology giant. So you might have some confusion about the patent.so here we will be describing what actually the patent is?

 The term “PATENT” originates from the Latin patere, which means “to lay open” which means to make available for public inspection. The term patent usually refers to an exclusive right granted to anyone who invents any new, useful, and non-obvious process, machine, article of manufacture, or composition of matter, or any new and useful improvement thereof, and claims that right in a formal patent application.IT is a set of exclusionary rights granted by a state to a patent holder for a limited period of time, usually 20 years. These rights are granted to patent applicants in exchange for their disclosure of the inventions. Once a patent is granted in a given country, no person may make, use, sell or import/export the claimed invention in that country without the permission of the patent holder. Permission, where granted, is typically in the form of a license which conditions are set by the patent owner: it may be gratis or in return for a royalty payment or lump sum fee. A patent for an invention is the grant of a property right to the inventor. Generally, the term of a new patent is 20 years from the date on which the application for the patent was filed

There are three types of patents: [Read more...]