1. Derived from the Latin word ‘LITTERAE PATENTES’ which means ‘Open Letters’
or ‘Open Documents’ to confer rights and privileges.
2. A contract between an Inventor and the Government
3. An exclusive privilege monopoly right granted by the Government to the Inventor
4. Invention may be of an Industrial product or process of manufacture
5. Invention should be new, non-obvious, useful and patentable as per Patents Act
6. The right to the inventor is for limited period of time and valid only within the territorial limits of a country of grant.
Examples: a drug compound, a tool, maybe software effects
