patent

1. Clear or obvious on the fact of it.
2. Limited legal monopoly granted to an individual or firm to make, use, and sell its invention, and to exclude others from doing so.
An invention is patentable if it is novel, useful, and non-obvious.

To receive a patent, a patent application must disclose all details of the invention so that others can use it to further advance the technology with new inventions.

Patentable items fall under four classes
(1) Machine: apparatus or device with interrelated parts that work together to perform the invention's designed or intended functions,
(2) Manufacture: all manufactured or fabricated items,
(3) Process: chemical, mechanical, electrical or other process that produces a chemical or physical change in the condition or character of an item, and
(4) Composition of matter: chemical compounds or mixtures having properties different from their constituent ingredients.

In most of the world, patents are granted on the 'first to apply' basis, with a protection period of 7 years (India) to 20 years (European Union).

In the US, they are granted for 17 years on the 'first to invent' basis.

Responsibility of identifying, locating, and suing the patent violators, however, rests solely with the patent holder; patent law provides only means of prosecution and determination of just compensation.
from www.businessdictionary.com