Patent

   

Definition: a Patent is a form of intellectual property. It is the legal term for a set of exclusive rights granted by a sovereign state to an inventor (or assignee) for a limited period of time, in return for the public disclosure of the invention.
An invention here means a solution to a specific technological problem (a product or process). Typically the invention has to be new and non-obvious.
The exact procedure, requirements and extent of the exclusive rights for a P vary between (inter)national jurisdictions.
Typically a P gives the right to prevent others from making, using, selling, or distributing the patented invention without permission.
In business, a P is an intangible asset.


   

   

More on patents.
More on intangible assets: Business Simulation, Copyright, Goodwill, Human Capital, Innovation Capital, more...



   

MBA Brief offers brief, yet very accurate definitions of MBA concepts, frameworks, methods and models. We keep it short and provide some links in case you'd like to learn more around a subject.




© 2020 MBA Brief - Last updated: 10-7-2020  -  Privacy   |   Terms