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. 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. Patent Share

    The percentage share of a universe of patents owned or created ...
  6. Plant Patent

    An intellectual property right that protects a new and unique ...
Related Articles
  1. Ridiculous Ideas That Made People Millions
    Personal Finance

    Ridiculous Ideas That Made People Millions

  2. Patents Are Assets, So Learn How To ...
    Investing Basics

    Patents Are Assets, So Learn How To ...

  3. Pharma Patent Trolls: Cheap Drugs At ...
    Fundamental Analysis

    Pharma Patent Trolls: Cheap Drugs At ...

  4. From Beads To Binary: The History Of ...
    Fundamental Analysis

    From Beads To Binary: The History Of ...

Hot Definitions
  1. Return On Sales - ROS

    A ratio widely used to evaluate a company's operational efficiency. ROS is also known as a firm's "operating profit margin". ...
  2. Halloween Strategy

    An investment technique in which an investor sells stocks before May 1 and refrains from reinvesting in the stock market ...
  3. Halloween Massacre

    Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, ...
  4. Zombies

    Companies that continue to operate even though they are insolvent or near bankruptcy. Zombies often become casualties to ...
  5. Witching Hour

    The last hour of stock trading between 3pm (when the bond market closes) and 4pm EST. Witching hour is typically controlled ...
  6. October Effect

    The theory that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological ...
Trading Center