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In this video, Mart, a PhD student in medicinal chemistry, expresses gratitude for reaching over 100 subscribers and discusses the significance of patents in the CRISPR field. He defines a patent as a legal document granting inventors exclusive rights to their new processes or equipment for a period, typically 20 years in the CRISPR domain. This exclusivity necessitates that anyone using the technology during this time must pay royalties to the patent holder. Mart highlights the importance of knowing who holds the rights to CRISPR technologies, mentioning two opposing sides: Nobel Prize winners Jennifer Doudna and Emmanuelle Charpentier, founders of CRISPR Therapeutics and Intellia, versus Fang Zhang.