Letters Patent

AAA

DEFINITION of 'Letters Patent'

A legal instrument that grants the exclusive rights of an invention to an individual or a corporation. A letters patent is granted by the government to an individual, giving him or her the rights to authorship or to a patent for a new invention or discovery. The new invention is required to provide a different way of doing something or a new solution.

INVESTOPEDIA EXPLAINS 'Letters Patent'

A letters patent is not sealed. It is open for public viewing at the patent and trademark office. The letters patent gives the rights of an invention to a person or entity for a limited period, usually for 20 years. The government may also refer to a patent as a "license" giving its holder rights to the innovative process, design or invention for a certain amount of time.

RELATED TERMS
  1. Patent Troll

    A derogatory term used to describe people or companies that misuse ...
  2. Proprietary Technology

    A process, tool, system or similar item that is the property ...
  3. Patent Share

    The percentage share of a universe of patents owned or created ...
  4. Patent Reexamination

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

    A government license that gives the holder exclusive rights to ...
  6. Collection-Proof

    A debtor who doesn’t have any assets that a creditor can collect ...
RELATED FAQS
  1. No results found.
Related Articles
  1. Personal Finance

    Ridiculous Ideas That Made People Millions

    These wacky inventions didn't look like the money machines they became for their creators.
  2. Investing Basics

    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.
  3. Fundamental Analysis

    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.
  4. Entrepreneurship

    From The Printing Press To The Internet

    Find out how this invention contributed to the development and evolution of the U.S. economy.
  5. Fundamental Analysis

    The History Of Information Machines

    Discover how technology changed the way we exchange information when trading.
  6. Fundamental Analysis

    From Beads To Binary: The History Of Computing

    Investing today couldn't happen without the inventions of yesterday. Learn more here.
  7. Investing

    What's a Debit Note?

    A debit note is a document used by a seller to inform a purchaser of a dollar amount owed. As the name indicates, it is a note from the seller that a debit has been made to the purchaser’s account. ...
  8. Professionals

    What does C-Suite Mean?

    C-Suite is a slang term used to describe the highest level senior executives of a corporation. This is the decision-making, power center of a company. These individuals are usually paid well, ...
  9. Investing

    What's a Monopolistic Market?

    A monopolistic market has a significant number of characteristics of a pure monopoly. Though there may be more than one supplier, the market has high prices, suppliers tightly control availability ...
  10. Professionals

    What's Human Capital?

    Human capital is a company asset, but it’s not listed on the balance sheet. Human capital is all of the creative skills and knowledge embodied in the employees of a company -- skills that bring ...

You May Also Like

Hot Definitions
  1. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  2. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  3. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
  4. Cost Accounting

    A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step ...
  5. Law Of Supply

    A microeconomic law stating that, all other factors being equal, as the price of a good or service increases, the quantity ...
  6. Investment Grade

    A rating that indicates that a municipal or corporate bond has a relatively low risk of default. Bond rating firms, such ...
Trading Center