A patent is a license granted by the government to an inventor. It gives the inventor exclusive rights to earn money from his creation. At the same time, it prevents others from making, copying, or using the invention for a period of time.
Let’s say you invented a flying bicycle and had it registered with the patent office. If someone else appears selling a similar product, you can challenge this. The patent you filed for earlier is your proof that you are the original inventor. Your competitor must then to stop his activities unless he compensates you fairly.
Other interesting terms…
