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A patent is an intellectual property right given to a creator for his invention and also for the manufacturing process for creating that product or invention. It promotes novel ideas and inventions and is hence valued highly in the commercial world.

When an individual creates a new thing that is exclusive and has commercial value, he would not want it to be dishonestly used by others for their own personal benefit. However, it is not easy to watch over each and every violation of your right over your invention as you might be required to talk about it in public for promotional purposes. It is here that patent laws come into the picture.

Patent laws permit the manufacturer or inventor to make exclusive use of the invention or the process for his own commercial advantage for a particular span, after which the patented product or process passes into the public domain. This enables the inventor to get benefits of his efforts while he is under the safety of law and permits him to initiate legal action against any individual who is found to be infringing his patent.

Patents are quite significant in attracting licensees as well, as such people or firms normally want to put their money in a product that is less prone to counterfeiting and is exclusive in the market. However, the complex procedures and high costs involved in patenting make it undesirable for products with low commercial viability as well as for those which are to be sold for a very limited time span.

The real importance of patents lies in instances where the inventor has put in a lot of effort and ingenuity to develop a marketable product, particularly when a large scale production of that product is viable. Had such investments in terms of time and efforts not been given legal protection, there would have been no incentive for people to come up with innovative ideas and inventions.

Discover more about Trademark Registration Singapore and discover how does an Intellectual Property protection increase the net worth of your business very fast. You are welcome to reprint this article – but get your own unique content version here.

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