Government grants a property right to the inventor for inventing it is called patentpatent includes how invented thing works,how they are made etc it is used to protect our inventions from others So if your patent is granted then you can stop other for making, selling and using the same thing. Your invention must:
Patent covers the following things:– Patent thing must be new/Innovative, It is must be capable of being made or used in some kind of industry
Why it is useful ?
if you don’t patent your invention it may be used sold and altered by others,you can’t stop them So it is required to patent your invention for making it’s use exclusive.
Benefits of patent
It is a ability to take legal action against other from copying,selling and importing your invention without your permission.
You have all right about your invention like selling your invention.license the invention to other party but retain all rights etc
Others can get benefit from you patent because we publish it so they can get knowledge of your invention and take advantage of it.
A patent is also one of the important assets of your business it increases value of your product and It considers a valuable assets by banks and potential purchasers of your business.
It is needed to protect you from scrupulous individuals who could benefit from your invention/hard-work.