Concept of Patent.
Meaning of patent: Patent is a state grant- in the name of inventor for a fixed period of 20 years. What is granted as patent is a privilege of making, manufacturing, selling or using the invention & also a right to authorize others to do so.
Purpose & policy: The purpose of patent system is: (i) To encourage research & promote the inventive genius. (ii) To secure for inventions awards for inventing useful inventions. (iii) To provide inventors a monopoly for commercial exploitation of the invention. (iv) To maintain the flow of inventions. (v) To generate & promote scientific temper.
Application of patent: The following persons can make application for patent: (i) Person claiming to be the true & first inventor of the invention. (ii) The assignee of the inventor. (iii) Legal representative of the decreased person who immediately before his death was entitled to make such application.
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