What are the advantages of patent?

Patented inventions have touched every walk of human life, from electric bulb, rubber, tire, telephone, radio, video, camera etc.

Patent offers a number of advantages such as:

  • Patent provides incentives to individuals by giving them recognition for their creativity in the form of inventions.
  • Individuals are rewarded for their inventions.
  • The publication of patent and patent application helps in spread of new knowledge and motivate others to carry on innovation activities.
  • The publicly available knowledge can be used by many people simultaneously.