What Is the Purpose of a Patent?
When original effort results in an invention, it is the patent that guarantees the inventor's ownership. This basic right serves as a backbone of research and development, and the tradition of patents in the U.S. is as old as the country itself.
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Definition
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A patent is a written guarantee that gives exclusive rights to the owner, excluding others from making, selling or using the new invention without the owner's consent. It is issued by the government.
Function
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In addition to giving exclusivity to the owner of the invention, patents also encourage inventors to disclose work that may be beneficial to society.
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Duration
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Generally patents provide ownership rights for 20 years, however in some cases extensions are granted.
Types
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Only certain types of inventions are patentable. The U.S. Patent Office recognizes three types: 1) utility; 2) design; and 3) plant. Utility patents account for over 90 percent of all patents. The utility category includes new machines and processes, as well as improvements to ones that exist already.
Benefits
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Patents encourage research by protecting any financial reward that may result from the invention. In addition, they provide a record for all inventions so resources are not wasted to develop something that already exists.
History
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U.S. patent law is based on the English system. The U.S. Constitution granted Congress the power to create a patent system, which it finally established in July 1790. Since then, 7.8 million patents have been granted.
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