patent

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Patent

The exclusive right to use documented intellectual property in producing or selling a particular product or using a process for a designated period of time.

Patent

A right, granted or guaranteed by a government, giving an inventor the exclusive right to make, produce, and sell his/her invention for a certain period of time. While the time limit varies from country to country, most governments recognize each other's patent laws. In the United States, the length of a patent is 20 years. Patents exist to protect inventors from having their ideas stolen, a concept intended to encourage innovation and entrepreneurship.

patent

a grant of ownership rights by the government to a person or business in respect of the invention of an entirely new product or manufacturing process or a significant development of an existing product or process. In the UK, under the COPYRIGHT, DESIGNS AND PATENTS ACT 1988, the PATENT OFFICE can grant a patentee a monopoly to make, use or sell the invention for a maximum of twenty years from the date on which the patent was first filed. In order to obtain a patent approval, inventors are required to supply full details of the invention to the Patents Office and satisfy that body that the invention contains original features and that it has a demonstrable industrial application.

The monopoly protection given by a patent is not enforced by the Patent Office itself. It is the responsibility of patentees to look after their rights by detecting whether someone else is infringing them and then seeking redress for infringement through the courts.

Patents registered in one country may be valid in other countries if filed in a country which is party to a reciprocal treaty. The UK, for example, is a member of the 13-country European Patent Convention which allows inventors to obtain patent rights in the EPC countries by filing a single European patent application. Globally, patent applications are administered by the World Intellectual Property Organization (WIPO) under the Patent Cooperation Treaty which enables investors to apply for registration in member countries with a single registration. WIPO has no powers of enforcement. However, under a GATT (now the WORLD TRADE ORGANIZATION) accord (negotiated at the ‘Uruguay Round’) it was agreed to give investors a minimum patent term of 20 years in all member countries with members being obliged to enforce patent protection on patents recognised by each others national authorities.

The patent system has the twin objectives of both encouraging inventors to undertake the risks and expenses of breaking new ground by offering them temporary monopoly rights to profit from their work, and providing for the eventual dissemination of advances in technology to the benefit of society as a whole. See RESEARCH AND DEVELOPMENT, BRAND.

patent

the grant of temporary MONOPOLY rights and control over new products, processes and techniques to their INVENTORS by the government. Patent protection is seen as an important means of fostering TECHNOLOGICAL PROGRESS by providing an opportunity for inventors and INNOVATORS to recoup development expenses and secure a profit reward for risk-taking. To minimize the danger of monopolistic exploitation, patents are granted for limited time periods only. In the UK, under the COPYRIGHT, DESIGNS AND PATENTS ACT 1988, the PATENT OFFICE can grant a patent for a maximum of 20 years.

See INTELLECTUAL PROPERTY RIGHT, RESEARCH AND DEVELOPMENT.

patent

The first transfer of title out of the government to a private individual or company.

Patent

The exclusive right of an inventor to make, use, or sell his invention for a period of years. A patent is an intangible asset that may be depreciated over its remaining life. The sale of a patent usually results in long-term capital gain.
References in periodicals archive ?
Por outro lado, com a mudanca nas politicas de credito agricola e o estimulo cada vez mais patente para a modernizacao das areas rurais, houve uma inversao no modelo "intensivo.
Como ha escrito Terry Eagleton sobre la transformacion de la ideologia, cualquier clase social revolucionaria corre el riesgo de pecar de personalismo: "Una vez izada en el poder, sus intereses egoistas empezaran a resultar mas patentes, y esto les hara pasar de una posicion universal a otra particular a ojos de algunos de sus anteriores partidarios" (85).
El interes de la enfermeria nefrologica por la formacion y la investigacion se ha mantenido patente a lo largo de los anos.
Isto deixa patente que o maximo do campo eletrico ocorre no plano de simetria no meio das faces maiores do guia de ondas (x=a/2)
L'ouvrage de Rodney Needham, La patente en question.
All patents were addressed "to all people whom these presents come" and unlike letters close, private letters that were sealed up, letters patent were open, indicated by the Latin patente, or "open".
L'incongruite d'une telle option intellectuelle apparait de facon encore plus patente a propos de l'Amerique, et plus encore de l'Amerique du Nord : la succession des vitrines va refleter un decoupage en aires culturelles a la Kroeber, sans qu'il soit jamais remis en question, alors que ce dernier nous apparait de plus en plus hautement discutable (Desveaux 2001, 2002).
Most importantly, Baldelli underscores the centrality of love as a theme in the Commedia: "Nell'opera dantesca, e in particolare nella Commedia, e patente l'assoluta centralita dell'amore, dell'amore umano, in tutta la sua scala, e dell'amore divino come fonte della creazione del cosmo, di cui l'uomo, l'amore infinito per l'uomo, sono il centro e la ragione" (73-74).
Cosimo I's patente establishing the magistracy was issued 19 March 1542, and approved by Cardinal Antonio Pucci (27 June 1542), Archbishop Buondelmonti (17 October 1542), and Paul III (18 July 1543).
El desengano es patente hacia el final del poema, donde se recoge nuevamente la imagen del leon, ya utilizada en la oda a Roosevelt, ahora con la connotacion de fuerza, de poderio en dedive; junta al leon viejo espanol la cobardia de los paises hispanoamericanos: "He lanzado mi grito, Cisnes, entre vosotros, / que habeis sido los fieles en la desilusion, / mientras siento una fuga de americanos potros / y el estertor postrero de un caduco leon" (649, v.
Ha quem julgue que o raminho e oferta de paz, quando esta muito patente que se trata do primeiro graveto da futura pilha de lenha, ou te corto, ou te queimo, por isso e que, havendo que faltar a lei, mais vale apunhalar a mulher, por suspeita de infidelidade, que nao honrar os fieis defuntos, a questao e ter padrinhos que desculpem o homicidio e mil cruzados para por na balanca.