What are Patents

Patents are statutory monopolistic rights granted to protect inventions. Patent rights act as economic incentives to patentee. Patents encourage research and development by providing exclusive rights to patentees to commercially make use of the inventions. Patents are granted to encourage disclosure of information to the public by the applicant for Patent so that the same could be used for further scientific and technological research and development. As the Patents are statutory rights they are enforceable within the territorial jurisdiction of the country by which they are granted.