Patent

Patents protect novel inventions that have industrial applications by giving an absolute monopoly to the inventor. Whilst the term of patent protection is relatively short (20 years), the scope of protection is enormously broad. A patent holder can forbid use of his or her invention even by another inventor who independently derived the concept. Further, through various doctrines (e.g. the doctrine of equivalents), the inventor is able to protect the general scope of the patent. So, while patents can provide a great reward to successful inventors, the presence of patents in a particular field can be a disincentive to others to invent in any area close to the patent.

Patents are granted with territorial effect only in countries for which protection was sought and this can be costly process if multiple filling is contemplated. Time is also against prospective patentee as any delay in registering an invention increases the likelihood that a rival might relieve their own invention, thereby thwarting any chances of future protection; by the same token, seeking protection on limit the scope of monopoly obtained.

The inventor must sufficiently disclose his invention in the specification to allow effective examination of its specification to allow effective examination of its suitability for a patent. If this has not happened by a patent is nonetheless granted, this can be a ground for subsequent revocation of the patent for insufficiency.

The basic premise of patent protection is that the inventor receives a 20 year absolute monopoly in exchange for revealing his invention to the world so that science and progress are advanced. It differs from a petty patent/utility innovation where this is an exclusive right granted for a “minor” invention which does not require to satisfy the strict requirement of inventiveness as required of a patent.