Patent property is having ownership of a patent so you can do with it as you please. Of course, you must adhere to laws of the land in which you plan to profit from your patent. Once you a thorough understanding of these laws, you can make a fortune from the right patent. Within the United States, even though a corporate entity may be assigned a patent in the future, the inventor must be the one applying for a patent. As strange as it may seem, he or she may also be required to assign the invention to those in charge of the corporation under an employment contract. As an owner of a patent, you have the ability to assign ownership rights. This enables the inventor to sell the patent to third parties. Upon assignment, the third party then owns the patents. Therefore, they have the right to prevent exploitation of the patent by other parties. In the law's eyes they are seen as the inventor.