A patent is a form of intellectual property (IP) that grants the inventor a set of exclusive rights to the patentable invention, usually for a limited period of time. A patent protects an invention from being copied or reverse engineered, allowing the inventor to benefit financially from their invention’s production. After a patent is published, it is reviewed and a decision is made whether to grant the application.

Typically, to qualify for a patent, the invention must be useful, novel, non-obvious, and include a useful process, method, or machine. Utility patents are granted for new, useful and non-obvious processes, machines, or chemicals. Plant patents are granted for new varieties of plants and design patents cover the ornamental features of an object. The granting of a patent essentially grants the inventor exclusive rights to the patented process, design, or invention for the duration of the patent.

The United States Patent and Trademark Office (USPTO) is authorized to grant patents for inventions in the United States. Once a patent is granted, the owner of the patent has the exclusive right to make, use, or sell the invention for the period of the patent’s protection. Patent owners that allow their patent to expire will lose their exclusive rights to the invention. There are patent infringement laws in place to protect the rights of patent holders, where willful infringement of a patent can result in expensive damages and penalties.

The process of obtaining a patent is expensive, time consuming, and complicated. All applicants must file an application with a qualified patent attorney or agent. The initial application is then followed by an examination process, where a patent examiner reviews the application against pre-established criteria out of the Manual of Patent Examining Procedure (MPEP). If all criteria are met, the patent can then be granted.

The concept of patent laws has been extensively used for centuries, with the first patent laws being established in the 16th century by the Venetian Republic. The knowledge and experience gained from centuries of patents has led to the development of a vast array of products and inventions in our modern world. With the U.S. Patent and Trademark Office issuing its 10 millionth patent in June of 2018, the importance of protecting intellectual property has never been greater.