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.
- 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.
- In addition to giving exclusivity to the owner of the invention, patents also encourage inventors to disclose work that may be beneficial to society.
- Generally patents provide ownership rights for 20 years, however in some cases extensions are granted.
- 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.
- 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.
- 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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