Exclusive rights over a new invention are referred to as what?

The correct answer is that exclusive rights over a new invention are referred to as a patent. A patent grants the inventor the legal right to exclude others from making, using, selling, or distributing the invention without permission for a certain period, typically 20 years from the filing date. This exclusivity incentivizes innovation by protecting the inventors' creative work and investment.

Patents specifically apply to inventions that are novel, non-obvious, and useful. They are designed to promote technological advancement and provide a structured way for inventors to profit from their inventions while contributing to public knowledge once the patent expires.

In contrast, copyright protects original works of authorship, such as music, literature, and art, but does not extend to inventions or functional items. Trademarks are aimed at protecting brand names, logos, and slogans that distinguish goods and services in the marketplace. Fair use is a legal doctrine that allows limited use of copyrighted material without permission under certain conditions, but it does not relate to the protection of inventions.