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A patent is a statutory grant of monopoly in an invention for a fixed period of time, usually seventeen years from the date of filing. The patent gives the inventor or their assign the absolute right to profit from the invention during the term of the patent. They may choose to be the sole user of the patent and to obtain an injunction against other users. They may also license the patient and collect a royalty and seek damages against unauthorized users.

See also:

See also letters patent, a concept in corporation law

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