The importance of patents would, perhaps, be best highlighted by the fact that the most prestigious prize in the world, the Nobel Prize, was made possible because of a patent over dynamite granted to Alfred Nobel. Every aspect of human life has been pervaded by patented inventions, from electric lighting (patents held by Edison and Swan) and plastic (patents held by Baekeland), to ballpoint pens (patents held by Biro) and microprocessors (patents held by Intel).
The importance that companies attach to patents can be judged from the fact that IBM expects to file 3,250 patents this year and 64% of the total revenues of Philips come from patent royalties rather than from manufacturing. Pharmaceutical giants like Pfizer and Merck exist because of patents.
A patent is an exclusive right granted for an invention, which is a product or a process that provides, in general, a new way of doing something, or offers a new technical solution to a problem. In law, a patent is a property right and can be gifted, inherited, assigned, sold or licensed.
Yours Patented.
The importance that companies attach to patents can be judged from the fact that IBM expects to file 3,250 patents this year and 64% of the total revenues of Philips come from patent royalties rather than from manufacturing. Pharmaceutical giants like Pfizer and Merck exist because of patents.
A patent is an exclusive right granted for an invention, which is a product or a process that provides, in general, a new way of doing something, or offers a new technical solution to a problem. In law, a patent is a property right and can be gifted, inherited, assigned, sold or licensed.
Yours Patented.
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