Answer / kamlesh choudhary

Patents is legal right to an company or individual who is
make or invention by them.

Answer / ramya

Patent is an intangible asset. Patent Right is given for
new innovations,new process etc.

Answer / sravani

patent is a legal right for our inventions(or products they r uniqe from others)if any one want to produce our products they have to take permission from us

Answer / saurabh bahl

Patent is an exclusive right granted to the firm to produce
particular product or to use given technology on the basis
of the claim to be discoverer of the product or technology.

Answer / srikantpatnaik

Patents are like intangible assets. Basically the technical
people does R&D work and come out with new technology,
procedure, formula or any improvements to any existing
theories etc which can be used to generate income. So the
inventor registers the findings with the legal authorities
and anybody wants to use it, needs to have the inventor's
permission, else it would be void in law and the inventor
has the right to sue the unauthorized use. we have
accounting standard on this. I guess now the patent be
treated like a asset and provide depreciation.(or may be
amortise it over the life of the asset)

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