What is a patent?
A patent is an exclusive right to commercially exploit your invention (to make or sell it). It protects your invention from being used by others without your permission. This right is granted on the basis of a formal application.
Beyond protection, a patent can be a highly valuable asset. It strengthens the market potential of your invention and increases the likelihood that companies will invest. A licensed patent gives a company a unique competitive position, improving the chances that your research will reach the market.