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Government grant of the exclusive privilege of making or selling a new invention, design or process for a predetermined number of years.
''Intellectual property.''
 
A patent is a government grant of the exclusive privilege of making or selling a new invention, design or process for a predetermined number of years.
 
The effect is to allow a limited monopoly for the limited time period, together with the right to defend the monopoly position.
 


== See also ==
== See also ==
* [[Incorporeal property]]
* [[Grant]]
   
* [[Intangible assets]]
* [[Intellectual property]]
* [[Know-how]]
* [[Licence]]
* [[Monopoly]]
* [[Patent cliff]]
* [[Pharma]]
* [[Trademark]]
* [[UK Copyright, Designs and Patents Act 1988]] (CDPA 1988)


[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]

Latest revision as of 21:29, 14 February 2025

Intellectual property.

A patent is a government grant of the exclusive privilege of making or selling a new invention, design or process for a predetermined number of years.

The effect is to allow a limited monopoly for the limited time period, together with the right to defend the monopoly position.


See also