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Patents are government grants that give inventors exclusive rights to their inventions. Patent protection applies in the country that issues the patent. In Canada, this protection extends for 20 years from the date of filing. Patents are granted for products or processes that are new, workable and ingenious (novel, useful and inventive). In this way, patents serve as a reward for ingenuity.
Patents do more than keep creative wheels spinning. They are an important means of sharing know-how, because each patent document describes a new aspect of a technology in clear and specific terms and is available for anyone to read.
Eighteen months after a patent application is filed, the document is made public. This is done specifically to promote the sharing of knowledge. Patents are vital resources for businesses, researchers, inventors, academics and others who need to keep abreast of developments in their fields.
In Canada, a patent is given to the inventor who first files an application. It's therefore wise to file as soon as possible after completing your invention because someone else may be on the same track.
Source: http://strategis.gc.ca
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