Patches are a common thing when you work with Drupal. They are pieces of code that describes the changes between a before and after state of either a module or core. We commonly use patches to improve the code, add extra functionalities to a module or fix an existing issue. By applying the patch, the issue should no longer exist.
This item uses a few contributed Drupal modules that need to be patched for the theme to work as is designed. However, if you have purchased this item, you shouldn't worry about applying patches because the package includes already patched modules.
This document is for informational purposes only so that in the future if you update some of the modules below you should follow the module's issue, and you may need to apply a patch if the module maintainer does not have fixed the problem yet. If you use a composer managed version of the theme, you don't have to worry about applying patches. The patches are listed in the composer.json file, and they will be automatically applied when you perform an update on a patched module.