Yes, it means that the patent office (government) recognizes that McLaren was the first to come up with such an invention (new device) or innovation (new way of doing something). As such, it gives McLaren the formal ownership rights to the invention or innovation. These ownership rights are intellectual property rights, and if anyone copies them then McLaren has the right to seek compensation.
Note that:
1. Copying has specific legal definitions. You can make something similar, and it might be considered copying under the eyes of the law. Or, you can have the exact same thing with different materials, other minor differences, and the legal system might rule that it is not a copy. It is up to the lawyers and the case they present.
2. It is up to the patent holder to enforce their patents and protect it from violation. Obviously, this depends on how much money /resources they have.
3. If you don't claim and protect ownership rights, and allow your intellectual property to be used by others, you can be considered to have abandoned your rights and legal protections--essentially, you lose your patent protection.
4. Patents expire after 17 years.
5. State law and federal law treat your rights differently in the US.
I mention US law because McLaren was granted several US patents as well.