What term describes the exclusive rights granted by a patent?

The term that describes the exclusive rights granted by a patent is commonly referred to as "patent protection." Patent protection establishes that the patent holder has the legal right to exclude others from making, using, selling, or distributing the patented invention without permission for a specific period, typically 20 years from the filing date. This legal framework is essential for encouraging innovation, as it provides inventors with a temporary monopoly on their inventions, giving them the opportunity to recoup development costs and potentially earn profits.

While "patent exclusivity," which is the chosen answer, may be used informally to describe the exclusivity aspect of patent rights, it is not the standard legal terminology employed within patent law. Instead, “patent protection” is widely recognized and accurately conveys the scope of the rights granted under a patent. The other terms mentioned—such as "patent authorization"—do not accurately define the legal rights conferred by a patent, nor do they capture the essence of the protective measures that safeguard an inventor's interests in their inventions.