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A patent allows you to profit from your idea. It gives you the legal right to prevent others from using your idea unless they first obtain your permission and either buy the patent from you or pay you an ongoing licensing fee or royalty payment.
By filing for a patent, you document ownership of an idea similar to the way a “title” does for a car or a “deed” does for real estate. Like other forms of property, patents are valuable assets and can be bought, sold, leased, used as collateral for loans, and even inherited.
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