Field Of Use

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.

BREAKING DOWN '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. Patent

    A government license that gives the holder exclusive rights to ...
  2. Design Patent

    A patent protecting the unique visual qualities of a manufactured ...
  3. Patent Agent

    A professional licensed by the United States Patent and Trademark ...
  4. Patent Attorney

    A lawyer with expertise in intellectual property law as it pertains ...
  5. Letters Patent

    A legal instrument that grants the exclusive rights of an invention ...
  6. Provisional Patent Application

    A short-term means of protecting an invention that requires less ...
Related Articles
  1. Investing

    Patents Are Assets, So Learn How To Value Them

    Innovation is the key to staying on top. Find out how companies protect their ideas and how to figure out how much they're worth.
  2. Personal Finance

    Protecting Your Idea: Should You Patent It?

    At what stage of development should you patent an idea – and which ideas can you patent? Here's how to decide and what to do next.
  3. Personal Finance

    Filing A Patent

    Want to patent your invention or design? Here's a complete step-by-step guide to the process.
  4. Investing

    Who Are Patent Trolls & How Do They Work?

    Patent trolls are in the business of patent litigation, enforcing their patent rights against alleged infringers through license fees and lawsuits.
  5. Investing

    How Patent Trolls Hurt Competition

    Patent trolls are known to have a negative impact on the overall business ecosystem. Investopedia explores how.
  6. Personal Finance

    What's The Cost To File A Patent?

    When filing a patent, be ready to pay attorney fees, filing fees and other related expenses. Usually the total bill is a few thousand dollars.
  7. Personal Finance

    Patents, Trademarks and Copyrights: The Basics

    The decision to pursue a patent, trademark or copyright depends on the type of intellectual property you’re trying to shield.
  8. Markets

    Pharma Patent Trolls: Cheap Drugs At A Steep Price

    Though patent trolls can help patients achieve cheaper medication in the short-term, everyone pays for it in the long term.
  9. Personal Finance

    Apple Loses To VirnetX In Patent Case

    Apple, Inc. loses a patent case to VirnetX Holding Corporation and needs to cough up $625 million.
  10. Investing

    Yahoo Stock Up After Setting Asset Sale Deadline (YHOO, VZ)

    The embattled technology company has begun an auction for roughly 3,000 patents and pending patent applications. Yahoo says the bids are due by mid-June.
RELATED FAQS
  1. What are some common examples of noncurrent assets?

    Learn more about noncurrent assets and examples of noncurrent assets, such as tangible fixed assets, intangible fixed assets ... Read Answer >>
  2. What are the major barriers to entry for new companies in the drugs sector?

    Find out why barriers to entry for U.S. drug companies are so high and how the Food and Drug Administration, or FDA, inhibits ... Read Answer >>
  3. What is the drugs sector?

    Learn more about the drug industry and how new drugs are brought to market. Find out about how drug research is financed ... Read Answer >>
  4. Do financial advisors need to pass the Series 7 exam?

    Learn about the various securities licensing exams, such as the Series 7 exam, and which licenses are required for financial ... Read Answer >>
  5. What licenses does a hedge fund manager need to have?

    Obtain the pertinent information about the various types of licenses a hedge fund manager needs to have to legally operate ... Read Answer >>
  6. What’s the best option for selling grants, market or limit?

Hot Definitions
  1. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  2. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
  3. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
  4. Brexit

    The Brexit, an abbreviation of "British exit" that mirrors the term Grexit, refers to the possibility of Britain's withdrawal ...
  5. Underweight

    1. A situation where a portfolio does not hold a sufficient amount of a particular security when compared to the security's ...
  6. Russell 3000 Index

    A market capitalization weighted equity index maintained by the Russell Investment Group that seeks to be a benchmark of ...
Trading Center