A patent is a grant of ownership by a sovereign body to an inventor.
A patent grants the inventor exclusive rights to a patented process, design, or invention for a specified period in exchange for full disclosure of the invention.
In June 2018, the US Patent and Trademark Office granted its 10 millionth patent.
Utility model patents are the most common patents granted in the US, accounting for 90% of all patents granted.
Patents for useful plants and plants are issued for 20 years, while design patents are issued for 14 or 15 years, depending on when they are filed.