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Patent

A patent is an intellectual property right issued by authorized bodies to inventors to make use of, and exploit their inventions for a limited period of time (generally 20 years). The patent holder has the legal authority to exclude others from commercially exploiting the invention (for a limited time period). In return for the ownership rights, the applicant must disclose the invention for which protection is sought.

Link(s)
http://www.epo.org/
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