Patents are the intellectual property rights granted by the state for inventions. An invention means a creation of a new product or a process that has not been known to the public or has not been in existence in the nature. Simple examples of such product inventions are a pen, a tool, a machine, a medicine etc.. Examples of such process inventions are extraction of salt from sea water, process of manufacturing a drug, a process of making a tool etc…
There can be some inventions which fall into both product and process inventions like making a drug. The process as well as the product are inventions. When we buy such a product, we not only pay for the mere physical value of them, but also for the creativity that is embedded in the product. For example, when we buy an electronic equipment, the physical value may be very low, but the purchase price is determined by the added value for the creativity and innovativeness of putting the electronic elements together. Such inventive ideas are protected by a document known as a patent. A patent is granted after examining an application submitted by an applicant with respect to his/her invention
To get a patent right, one must make an application to the relevant national office, and the right is given for a limited period of time, generally 15-20 years depending on the legal provisions of the relevant country. Trade secrets, which are also inventions, have similarities as well as differences compared to patents. “
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Application & Guideline
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