In what context is "patent" used?

The term "patent" is commonly used in a legal and intellectual property context, referring to exclusive rights granted for an invention. When someone holds a patent, they have the sole authority to produce, use, and sell that invention for a certain period of time, typically 20 years from the filing date. This legal protection encourages innovation by ensuring that inventors can benefit financially from their creations without the fear of others copying their work. Understanding "patent" in this way highlights its significance in promoting progress and supporting inventors in various fields, from technology to pharmaceuticals.