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Beyond vaccines, UNESCO wants more global science shared

While the U.S. president is calling for suspending patents on COVID-19 vaccines, experts at UNESCO are quietly working on a more ambitious plan: a new global system for sharing scientific knowledge that would outlast the ...

Innovation predicts higher profits and stock returns

A large-scale study of the link between innovation and financial performance in Australian companies has found more innovative companies post higher future profits and stock returns.

High-tech start-ups benefit from Twitter hype

The short message service Twitter has played a prominent role in US politics in recent weeks and months and attracted a lot of attention. Even in business, Twitter users' tweets are being closely followed and used as a basis ...

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Patent

A patent ( /ˈpætənt/ or /ˈpeɪtənt/) is a form of intellectual property. It consists of a set of exclusive rights granted by a sovereign state to an inventor or their assignee for a limited period of time in exchange for the public disclosure of an invention.

The procedure for granting patents, the requirements placed on the patentee, and the extent of the exclusive rights vary widely between countries according to national laws and international agreements. Typically, however, a patent application must include one or more claims defining the invention which must meet the relevant patentability requirements such as novelty and non-obviousness. The exclusive right granted to a patentee in most countries is the right to prevent others from making, using, selling, or distributing the patented invention without permission.

Under the World Trade Organization's (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights, patents should be available in WTO member states for any inventions, in all fields of technology, and the term of protection available should be a minimum of twenty years. In many countries, certain subject areas are excluded from patents, such as business methods and computer programs.

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