Patent

What Does Patent Mean?
A government license that gives the holder exclusive rights to a process, design or new invention for a designated period of time.

Investopedia explains Patent
In the United States most patents are valid for 20 years. By granting the right to produce a new product without fear of competition, patents provide incentive for companies or individuals to continue developing innovative new products or services.

Filed Under: Laws, Regulations

Related Terms

Field Of Use
Goodwill
Intangible Asset
Intellectual Property
Non-Disclosure Agreement - NDA
Patent Reexamination
Patent Share
Proprietary Technology
Tangible Asset
Treble Damages
More Related Terms

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