Whether you develop new technology or improve well-known products or processes, you’ll want to know more about patents.

Patents provide a legally-protected exclusive right to an invention. In this way, patents serve as a reward for ingenuity.

Patent protection applies in the country that issues the patent. In Canada, it extends for up to 20 years from date of filing. Patents can be sold, licensed or used as an asset to negotiate funding.

In exchange for these benefits, inventors must provide a full description of their invention to enrich technical knowledge worldwide. Details of patent applications filed in Canada are disclosed to the public after an 18-month confidentiality period.