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According to the Wikipedia,
A patent is a set of exclusive rights granted by a government to a person for a fixed period of time in exchange for the regulated, public disclosure of certain details of an invention. The person applying for a patent does not need to be the inventor who created or authored the invention.
You will be amazed to know that almost all the organizations small or big put immense emphasis on creating Intellectual Property rights or patents. This gives them competitive advantage in the market and they earn billions of dollars using these Intellectual Property rights.
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