What is the Purpose of a Patent

Intellectual property law desires to protect individual's innovative, inventive, and industrially applicable inventions from infringement by others. Patents are a way in which intellectual property law carries out its aims. What is the purpose of a patent? The purpose of a patent is to provide the inventor of a new product, design, or technology with exclusive rights to the invention. These exclusive rights prohibit any other individual or business from making, using, or selling the invention without the authorization of the patent holder. The patent holder essentially maintains a monopoly on the invention until the term of the patent expires. The term of a patent is usually 20 years from the date the patent application was filed. If the patent holder pays all maintenance fees during the duration of the patent, no other entity has the right to make, use, or sell their patented invention.

Obtaining a patent can be a drawn-out and expensive process, but a patent serves many purposes. What is the purpose of a patent beyond protecting the inventor's rights to the product? Having a patent ensures that the inventor reaps the profits of his or her invention. By having a monopoly on the invention, the inventor receives all of the profits from the invention.

Patents also help ensure that there are not multiple products on the market that are identical in their form or function. Patents help make certain that inventors receive credit for their invention. Additionally, patents help guarantee that products on the market serve the function for which they were invented and that these functions are beneficial to society.

Inventors that desire to obtain a patent for their invention may file an application with the U.S. Patent and Trademark Office (USPTO). They may file a patent on their own or with the assistance of an intellectual property law attorney. Those unfamiliar with the patent application process may want to consider hiring an attorney for expert legal guidance and assistance.