Field Of Use

Dictionary Says

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 Says

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.

comments powered by Disqus
Hot Definitions
  1. Securitization

    The process through which an issuer creates a financial instrument by combining other financial assets and then marketing different tiers of the repackaged instruments to investors.
  2. Economic Forecasting

    The process of attempting to predict the future condition of the economy. This involves the use of statistical models utilizing variables sometimes called indicators.
  3. Chicago Mercantile Exchange - CME

    The world's second-largest exchange for futures and options on futures and the largest in the U.S. Trading involves mostly futures on interest rates, currency, equities, stock indices and agricultural products.
  4. Private Equity

    Equity capital that is not quoted on a public exchange. Private equity consists of investors and funds that make investments directly into private companies or conduct buyouts of public companies that result in a delisting of public equity.
  5. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  6. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
Trading Center