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A grant by law to an inventor of a device of the right to exclude other persons from making, using, or selling the device. The patent holder has the right to license to another person or company the right to make use, or sell the device. A patent is available only for devices that embody a new idea or principle and that involve a discovery. Patent protection varies from country to country, and may no be available in some jurisdictions. A country that is a member of the Paris Convention of Protection Of Industrial Property may recognize patents held in other jurisdictions. Patents rights are transmitted and sold in international markets through an International Manufacturing License Agreement. See Paris Convention; WIPO.
