A patent is a form of legal protection granted by a government to an inventor or company for a novel idea. In the context of intangible assets, a patent is valuable because it provides exclusive rights and prevents others from using, making or selling the invention without permission. It enables companies to safeguard their innovative ideas, products or processes, granting them an edge in the market. A patent can also be a powerful tool to differentiate a company’s offerings, enhance brand reputation and attract customers by highlighting the unique features or attributes protected by the patent.
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