Letters Patent

Dictionary Says

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 Says

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.
comments powered by Disqus
Hot Definitions
  1. Legal Monopoly

    A company that is operating as a monopoly under a government mandate. A legal monopoly offers a specific product or service at a regulated price and can either be independently run and government regulated, or government run and regulated.
  2. Closed-End Fund

    A closed-end fund is a publicly traded investment company that raises a fixed amount of capital through an initial public offering (IPO). The fund is then structured, listed and traded like a stock on a stock exchange.
  3. Payday Loan

    A type of short-term borrowing where an individual borrows a small amount at a very high rate of interest. The borrower typically writes a post-dated personal check in the amount they wish to borrow plus a fee in exchange for cash.
  4. 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.
  5. 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.
  6. 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.
Trading Center