The inventor obtains a monopoly limited to a 20-year term of producing and selling the patent.
This act granted patents for a term of 15 years, divided into three five-year periods.
[2] In 1923, the third federal Patent Act provided provisions for inventions created by public servants.
[3] Patents apply to physical inventions and process, but not literary works, most software and other forms of intellectual property.
This is done by taking potential offenders to court to determine if the patent has been infringed and obtain compensation.