A patent is a legal monopoly granted by the government which, for a term of 20 years, gives an inventor the exclusive right to make, sell or use, his invention.

Important Things To Keep In Mind Regarding Patents:

There are three types of patents: utility patents (which protect the functional aspects of inventions), design patents (which protect the ornamental, non-functional aspects of inventions) and plant patents (which protect asexual reproducing plants).

Utility patents protect inventions that must be new, useful, and non-obvious. 

Timely filing of a patent application is critical to ensuring your legal protection. Patent applications must be filed in the U.S. within one year from the first domestic public use or offer for sale, or from the first date of publication anywhere in the world.

The patent application examination process (called "prosecution") usually takes between two and three years. Owners may mark inventions "Patent Pending" only when an application is in "prosecution."

Patent infringement, the unauthorized making, using or selling of patented technology, is actionable in federal courts. Patent owners are entitled to lost profits resulting from the infringement.

Patent owners may seek to have infringing activities enjoined (a court can order that all infringing activities cease.) Continued willful infringement may entitle the patent owner to increased damages, court costs, and attorneys' fees.

Foreign filing must occur before any public disclosure or use in the country of interest. Filing of a U.S. patent reserves the right to file a patent in most countries for up to one year.