The utility model is often referred to as a “petty patent.” The utility model is granted more quickly, easily, and cost-effectively than a patent. It has a term of ten years. However, the utility model is an unexamined property right, since it is only registered by the patent office and not reviewed. A patent on the other hand is a property right for which a great deal of background research has been conducted by a patent examiner, who officially verifies that the invention fulfils the patentability criteria, i.e., that it is unique and novel, includes an inventive step, and that it is industrially applicable.