Legal Definitions - patent grant

Definition: A patent grant is a governmental grant of a right, privilege, or authority to exclude others from making, using, marketing, selling, offering for sale, or importing an invention for a specified period (usually 20 years from the date of filing), granted by the federal government to the inventor if the device or process is novel, useful, and nonobvious.

Examples:

• A patent granted to an inventor for a new type of computer software that improves the efficiency of data processing.
• A patent granted to a pharmaceutical company for a new drug that treats a specific medical condition.
• A patent granted to a car manufacturer for a new type of engine that reduces emissions and improves fuel efficiency.

Explanation: These examples illustrate how a patent grant gives the inventor the exclusive right to use and profit from their invention for a certain period of time. This encourages innovation and allows inventors to recoup their investment in research and development. However, it also means that others cannot use or profit from the invention without the inventor's permission, which can limit competition and innovation in some cases.