How patents can help to develop better technology or products.
Patents are the statutory right granted to the inventor or applicant for their invention for maximum 20 years of time from priority or filing date so that no one can manufacture and sell the products without the prior permission of the inventor or applicant. Patents are the reason we are able to see the technology moving at a speed of the light speed. Since time memorial, when the first patent was granted and today where the companies are filing patents and granted the patents on the latest technology. In search of a better world, the imagination and thinking power of human lead to various discoveries and invention with innovations on existing technologies and products. The inventor or applicants in search of new and better technology which can transform the world are creating new products which have lead human race to make this world a place of heaven with facilities. Patents are playing a prominent and important role in the entire technology life cycle, from initial Research and...