It is intended to smooth out and orchestrate formal prerequisites set by national or provincial Patent Offices regarding the documenting of national or territorial patent applications and the upkeep of licenses and certain extra necessities identified with licenses or patent applications, for instance, correspondences, portrayal or recordation of changes concerning licenses and patent applications.
patents and certain additional requirements related to patents or patent applications, for example, communications, representation or recordation of changes concerning patents and patent applications. According to an impact assessment, the implementation of the PLT was considered to have positive impacts on users, particularly in terms of simplification of procedures.
A patent is a form of intellectual property that gives its owner the legal right to exclude others from making, using, or selling an invention for a limited period of years in exchange for publishing an enabling public disclosure of the invention. In most countries, patent rights fall under private law and the patent holder must sue someone infringing the patent in order to enforce his or her rights. In some industries patents are an essential form of competitive advantage; in others they are irrelevant.