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A patent protects new inventions by granting the inventor exclusive rights to make, use, sell, and distribute the invention for a limited period, typically 20 years from the filing date. This protection encourages innovation by allowing inventors to recoup their investment in research and development without the immediate threat of competition imitating their invention.

The rationale behind this protection is centered on fostering technological advancement and promoting progress in various fields by ensuring that inventors can benefit financially from their creative efforts. Unlike other forms of intellectual property like copyrights or trademarks, which cover literary works and artistic expressions or specific symbols and designs respectively, patents are specifically aimed at inventions that offer new functionalities or processes.