Field Of Use

AAA

DEFINITION of 'Field Of Use'

Restrictions that are placed on a license granted for the use of an existing patent. Field of use restrictions limit the use of a patent to a certain industry, or even a specific product. These restrictions aim to protect patents against overuse or reckless use, and are a factor in the fees that are charged to patent licensees.

INVESTOPEDIA EXPLAINS 'Field Of Use'

Field of use restrictions help patent owners control how their patents and inventions are used in the marketplace. This arrangement is often found with the free licensing of certain patents. This enables the patent holder to profit from future applications that might use the patent in different ways. Another common example of field of use restrictions occurs within universities, where teams or groups of people may collectively hold a patent, but the members may have different wishes about how the patent should be licensed.

RELATED TERMS
  1. Goodwill

    An account that can be found in the assets portion of a company's ...
  2. Patent

    A government license that gives the holder exclusive rights to ...
  3. Proprietary Technology

    A process, tool, system or similar item that is the property ...
  4. Patent Reexamination

    A process conducted by the U.S. Patent and Trademark Office (USPTO) ...
  5. Intellectual Property

    A broad categorical description for the set of intangibles owned ...
  6. Policyholder Surplus

    The assets of a mutual insurance company minus its liabilities. ...
Related Articles
  1. Advertising, Crocodiles And Moats
    Professionals

    Advertising, Crocodiles And Moats

  2. Evaluating Pharmaceutical Companies
    Fundamental Analysis

    Evaluating Pharmaceutical Companies

  3. Intangible Assets Provide Real Value ...
    Markets

    Intangible Assets Provide Real Value ...

  4. What is an economic moat?
    Investing

    What is an economic moat?

comments powered by Disqus
Hot Definitions
  1. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  2. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  3. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  4. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  5. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  6. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
Trading Center