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 ?
No specific technical contribution is required and there are very few restrictions on patentability.
Geertrui van Overwalle of the University of Leuven in Belgium will report on "the patentability of human stem cells and cell lines derived from them".
UNICE, the Union of Industrial and Employers' Confederations of Europe, argues that patentability in this area would permit an return on investment in research by enterprises.
Greece, Spain, Finland and France disagree with the Commission's conclusions, believing they do not feature the necessary subtle distinctions nor exceptions to patentability as provided for in the European Patent Convention.
In official actions relating to reexamination proceedings, the PTO confirmed the patentability of Microtune's core radio frequency (RF) technology and issued the official Reexamination Certificate, concluding the reexamination process.
Her engineering background has been vital for successfully analyzing cutting technology related to material science and proving patentability opinions that help maintain integrity in our industry.
Many of the factors that are not specific to the patentee are correlated to some degree to the subject matter of the invention, including patentability, other restrictions on patent rights, and the time and overall cost of pursuing patent protection, but certain factors, such as patentability, may be difficult to assess, even a professional.
Expression of interest for Translation of PCT documents (patent abstracts and patentability reports) from Chinese to English
In Kuwait, the Kuwaiti Patent Law is silent in respect of the patentability of medical treatment methods, and as the Kuwaiti patent office has not yet started the process of examining patent applications, it is difficult to confirm the position of the Kuwaiti patent office in this respect.
At issue were two patent applications filed by the company, GB20060021068 and GB20060021069, which were rejected by the United Kingdom Intellectual Property Office (UKIPO) on the grounds that the disclosed technology, parthenogenetic stem cells and methods of making these stem cells, was excluded from patentability by the EU Directive on Legal Protection of Biotechnological Inventions.
continued to rework the tests for determining the patentability of