Patents in Canada's business and commercial landscape

All bright ideas and inventions need some protection. Even Albert Einstein knew that. Inventors in Canada and the world are wise to protect their inventions with patents since they offer protection in the business and commercial world from being stolen by others. Einstein had 50 patents during his lifetime. But the advantages to patents don't simply end in stopping theft.

Essentially, a patent is the government's stamp of approval, giving individuals the exclusive rights to an invention for 20 years from the time the patent application was filed. That gives a patent holder the right to sell the invention as well. In order for a patent to be granted it must be proved that it is original, be a new or improved item or development, perhaps be the first in the world and so never patented before, and it has to be useful. Patents aren't issued for things that don't work.

Patents may help inventors attract investors as well as keep ideas from competitors. An idea or product could be licensed or sold with the potential of reaping the financial rewards. Applications for patents are made public 18 months from the date they're filed in Canada or of the filing date in another country. No one can touch the patent other than the patent owner during the life of the patent.

Laws in Canada that govern business and commercial endeavours like patents are broad and complex. A lawyer who is savvy in business and commercial law would be able to recommend further legal information on patents and help with the patent process. Having a lawyer's help to file documents properly may speed up the process.

Source:, "Why obtain a patent?", Miriam Yosowich, Accessed on Nov. 10, 2017

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