Patents provide incentives to and protection for individuals by
offering them recognition for their creativity and the possibility of material reward for their marketable inventions, thereby encouraging the innovation that helps to constantly enhance the quality of human life.
The everyday role of patents
The products and objects we use every day are created as a result of public or private work. The patent ensures that those efforts are preserved and rewarded, enabling other technological breakthroughs to be made.
In return for the protection they are granted, all patent holders are required to publicly disclose information about their inventions, adding to the world’s knowledge base, and promoting creativity
Not only does a patent protect the holder, it also provides valuable information and inspiration for future generations of inventors.
Innovation is central to our daily life and to economic development. The success and viability of business depends in large part on its ability to devise new products. So, whatever your creation, it deserves protection.
A patent will ensure receive material reward for your research, while providing you with a strategic advantage in an increasingly competitive and globalised market. A patent will also enhance the value of your business. More than a performance indicator, it represents an intangible asset that can be exploited and passed on.
Filing a patent with the Office will provide you with a monopoly on the use of your invention in the Principality of Monaco for up to 20 years. As the patent holder, you can prohibit anyone else from using, making, importing, etc. your invention without your permission. You can prosecute anyone who infringes the patent.
However, a patent is also an effective deterrent - its existence alone is often sufficient to prevent the need for legal proceedings.