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 ?
Clinical outcomes and costs of transcatheter as compared with surgical closure of patent ductus arteriosus. N Engl J Med.
Device closure of patent ductus arteriosus is safe, effective and provides alternative way to surgical ligation/interruption with shorter hospital stay.
Contemporary outcomes of percutaneous closure of patent ductus arteriosus in adolescents and adults.
The commonest congenital acyanotic heart diseases were ventricular septal defect (VSD), atrial septal defect (ASD), combined VSD with patent ductus arteriosus (PDA), while tetralogy of fallot (TOF) was commonest cyanotic heart disease followed by transportation of the great arteries (TGA), VSD and pulmonary artery (PA), ASD, VSD, PDA.
Arteriovenous aneurysm on the pulmonary artery simulating patent ductus arteriosus botalli.
In our study, patent ductus arteriosus along with TOF was diagnosed in 2.9%.
[USPRwire, Tue Oct 31 2017] This report provides top line data relating to the clinical trials on Patent Ductus Arteriosus. Report includes an overview of trial numbers and their average enrollment in top countries conducted across the globe.
Echocardiography and MRI angiography showed a patent ductus arteriosus, moderate aortic valve dysplasia, and severe aortic coarctation distal to the left subclavian vessel (Figure 2).
Patent ductus arteriosus: patho-physiology, hemodynamic effects and clinical complications.
Catheterization implanted occluder for closure of intracardiac shunts and extracardiac and vascular structures, especially atrial septal defect, an open foramen ovale, membranous and muscular defect, patent ductus arteriosus available in a wide range of sizes and shapes Specifications.
2009): a) missing important records of medical history, including equivocation of conceptus age (nine cases that met the criteria); b) maternal ill conditions, including gestation weeks <20 or >44, gestational diabetes or diabetes with pregnancy, congenital cardiopathy with pregnancy, conditions of illness with fever (>38[degrees]C), exposure to pesticides within 3-8 gestation weeks, or history of consanguineous mating or genetic defects (18 cases); c) twin pregnancy (6 cases); and d) isolated patent ductus arteriosus in premature birth (5 cases).