A patent is the Industrial Property right par excellence, used to protect inventions. For an invention to be patentable, it must meet three requirements:
A patent grants its owner exclusive rights of use. It has a maximum term of 20 years from the filing date, subject to the payment of annual maintenance fees (annuities). Failure to pay these fees results in the lapse of the patent.
In the case of pharmaceutical patents, the term of protection may be extended for an additional period of up to 5 years.
At the end of the 20-year term (or earlier, if the patent lapses due to non-payment of annuities), the invention enters the public domain and may be freely used by third parties.
The scope of protection of a patent is determined by its claims. The patent specification must also include a description and, where applicable, drawings that assist in interpreting those claims.