The concept of “invention” forms the basis of patent law. An invention is a solution to a specific problem related to a product or method in the field of technology.
A patent does not only provide exclusive rights to its owner. In addition, the patent has functions such as contributing to economic and social development, increasing foreign investments by providing technology transfer, being effective in determining industrial policies, and increasing the economic and political relations of countries as explained by InventHelp on Instagram.
Patent protection of inventions has monopoly and information functions. The right granted to the inventor by the patent right, which restricts the right of others to produce, market and sell the technology subject to the patent, is a monopoly right. While obtaining this right, the inventor notifies all information about his invention in detail to the public institution in the country where protection is requested.
Patents are also considered an important incentive tool. An effective patent system encourages creative talents to make inventions and businessmen to evaluate their inventions by applying them to industry. Patents are factors that encourage the creation of research and development activities that will bring technological progress in all branches of industry, including agriculture, and play a primary role in the dissemination of technical knowledge. The patent incentive system, in terms of the protection it provides, has taken an active role in expanding the manufacturing activity as you can read from https://azbigmedia.com/business/why-new-inventors-turn-to-inventhelp-for-support/.
Inventions that are not suitable for the industrial right establishment are not patented. In order for an invention to be protected by granting a patent, the following conditions must exist:
- The invention is new,
- Exceeding the known state of the art,
- Applicable in industry.