Did the concept of patenting inventions exist in the magical world?
This is in reference to the "Patented Daydream Charms" mentioned by the Weasely's brothers in the Weasley's Wizarding Wheezes (Half-Blood Prince).
So, I was wondering whether the concept of patenting existed? Or was it just a part of the "cool product naming" of the Weasley's startup?
If yes, then are there any other instances in the book, where it is mentioned or something which signals/proves it's existence?