Patent
A patent is a time-limited legal right to exclude others from using an invention, granted in exchange for publishing how it works.
Why It Matters
Patents are assets that can be licensed, sold or used defensively, and their strength varies by jurisdiction and by how narrowly they are drawn.
Related Terms
- Intellectual PropertyIntellectual property is legally protected creative and technical work: copyrights, trademarks, patents and the rights to license them.
- Technology TransferTechnology transfer is the movement of technology and know-how from where it was developed, often a university or public laboratory, to a company that will use it.
- R&DResearch and development is a company's spending on creating new products, processes and knowledge, from early research to engineering a product for manufacture.
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