Patent

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

• Grant
• Intangible assets
• Intellectual property
• Know-how
• Licence
• Monopoly
• Patent cliff
• Pharma
• Trademark