What is a patent?

A patent is a form of intellectual property that grants the holder exclusive rights to make, use, and sell a specific invention for a certain period, typically up to 20 years from the filing date, depending on the jurisdiction. This exclusivity encourages innovation by allowing inventors to potentially recoup their investments in research and development without competition from others who might copy their work. Additionally, patents require the inventor to publicly disclose details of the invention, which benefits society by providing more information for further research and innovation.

The other options represent different aspects of intellectual property and regulatory processes but do not encompass the specific legal framework of a patent. Legal protection for creative expressions aligns more closely with copyrights, which protect artistic works, while regulatory approval for new pharmaceuticals pertains to the safety and efficacy assessments required before a drug can be marketed. The term used for trademarks involves symbols, names, or slogans that identify and distinguish goods or services, which is separate from the rights conferred by a patent.