Definition
A patent is a property right issued by a patent office that lets the owner stop others from making, using, selling, or importing the invention without permission, typically for 20 years from the filing date.
Why It Matters Legally
A patent is often a company’s most valuable asset and the legal basis for blocking competitors or earning licensing revenue. Without one, an invention can be freely copied. The scope of protection is defined entirely by the claims, so getting them right has lasting commercial consequences.
Example Use Case
An inventor develops a new battery design, files a patent application, and once granted can prevent rival manufacturers from selling the same design or demand a license fee from those who want to use it.
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Related Terms
Patent Claim, Patent Application, Prior Art, Utility Patent, Patent Prosecution