BNET Business Dictionary
Business Definition for: Patent
- a type of copyright granted as a fixed-term monopoly to an inventor by the state to prevent others copying an invention or improvement to a product or process.
The granting of a patent requires the publication of full details of the invention or improvement. The use of the patented information is restricted to the patent holder or any organizations licensed by them.
A patent's value is usually the sum of its development costs, or its purchase price if acquired from someone else. It is generally to a company's advantage to spread the patent's value over several years. If this is the case, the critical time period to consider is not the full life of the patent (17 years in the United States), but its estimated useful life.
For example, in January 2000 a company acquired a patent issued in January 1995 at a cost of $100,000. It concludes that the patent's useful commercial life is ten years, not the 12 remaining before the patent expires. In turn, patent value would be $100,000, and it would be spread (or amortized in accounting terms) over 10 years, or $10,000 each year.
Wiktionary Definition for: Patent
- A declaration issued by a government agency declaring someone the inventor of a new invention and having the privelege of stopping others from making, using or selling the claimed invention; a letter patent.
- A specific grant of ownership of a piece of property; a land patent.
- Patent leather: a varnished, high-gloss leather typically used for shoes and accessories.
- To successfully register an invention with a government agency; to secure a letter patent.
- # biology Open, unobstructed, expanded.
- Explicit and obvious.
Additional Resources
- Patent Law
- Under the United States Constitution and federal law, patent rights are granted to inventors so that they might have exclusive rights to their discoveries. This exclusivity allows the patent holder to prevent others from making, using, selling, offering to sell, or importing the patented item. Once the patent expires, the...
- White papers 2003-01-01
- Copart, Inc. Announces Issuance of VB2 Patent
- FAIRFIELD, Calif. -- Copart, Inc. (NASDAQ:CPRT) today announced it has been issued Patent No. 7,315,832 by the United States Patent Office. This patent covers and protects certain unique processes employed by its online auction platform, VB(2). The patent was issued on January 1, 2008.
- Research articles 2008-01-22
- U.S. Patent & Trademark Office Rejects Claims in Synopsys Patent, Magma Announces
- SANTA CLARA, Calif. -- The U.S. Patent and Trademark Office today rejected all the claims in Synopsys Inc.'s patent number 6,378,114 (the '114 patent), calling into question the validity of the patent, MagmaR Design Automation Inc. (Nasdaq:LAVA) said in a statement today. The validity of the '114 patent has been...
- Research articles 2006-08-17
- U.S. Patent Office confirms validity of key SanDisk patent
- SUNNYVALE, Calif.--BUSINESS WIRE--April 29, 1997--SanDisk Corporation (NASDAQ:SNDK) announced today that it has received notification from the U.S. Patent Office confirming the patentability of U.S. Patent 5,172,338 claims (the '338 patent).
- Research articles 1997-04-29
- Is The Cure Worse Than The Disease? An Overview Of Patent Reform Act Of 2005
- On June 8, 2005, Representative Lamar Smith, Chairman of the House Subcommittee on Courts, the Internet, and Intellectual Property, along with several co-sponsors, introduced H.R. 2795. Popularly known as the "Patent Reform Act of 20051," the Patent Reform Act is an omnibus bill which overhauls multiple aspects of patent practice....
- White papers 2005-09-06
- U.S. Patent Office to re-examine validity of Vitronics' Patent
- PORTSMOUTH, N.H.--BUSINESS WIRE--Aug. 7, 1996--Conceptronic Inc. (NASDAQ:CNCP) recently received confirmation that the United States Patent and Trademark Office has granted Conceptronic's request to reexamine Vitronics' U.S. Patent Number 4,654,502 (the '502 patent).
- Research articles 1996-08-07
- Siliconware Wins Again In Its Patent Reexamination Fight Against Tessera
- WASHINGTON -- On February 29, 2008, the Patent Office issued an Official Action rejecting Tessera's 6,133,627 patent in ex parte reexamination. The Patent Office rejected every claim of the '627 patent that is in reexamination.
- Research articles 2008-03-04
- EnXnet, Inc. Expands World Wide Patent Protection to Non-PCT Member, Argentina, for Thindisc Technology
- TULSA, Okla. -- EnXnet, Inc. (OTCBB:EXNT)(German WKN# AOHMDW) announces it has filed for Patent rights with the Argentinean Patent Office for its ThinDisctm patent filed in March 2005 with the United States Patent Office and internationally under the PCT Patent Cooperation Treaty in February 2006.
- Research articles 2006-03-08
- Hop-on's US Patent Offers Utility Patent Approval on Open Market
- IRVINE, Calif. -- HOP-ON, INC. (Pink Sheets:HPNN) announced today that it will initiate preliminary open market patent licensing approval for their universal charging technology patent. The essential utility patent required by the market is necessary for the commercialization of wireless handsets and other consumer electronics. (Reference US patent 6,994,592)
- Research articles 2007-04-18
- United States Patent and Trademark Office Interviews-Kill or Cure?
- An interview with a United States Patent and Trademark Office USPTO patent examiner regarding a pending patent application can be an efficient and economical means for advancing prosecution of a patent application. It can also be a disastrous experience for an attorney or inventor who is unprepared, impulsive, or makes...
- Research articles 2003-12-01
- Patent Office Sides with MercExchange on Auction Patent
- GREAT FALLS, Va. -- MercExchange, LLC announced today it has reached an agreement with the US Patent and Trademark Office in the reexamination of U.S. Patent No 6,202,051 (the '051), the online auction patent, concerning the patentability of this important innovation. The USPTO has accepted MercExchange's clarifying amendments to the...
- Research articles 2005-12-23
- Telkonet's Coupler Patent Approved
- GERMANTOWN, Md. -- Telkonet, Inc. (Amex:TKO), the leader in providing in- building broadband access over existing electrical wiring, today announced the final approval of its patent application (U.S. Pat. App. No. 10/219,811) and receipt of its patent (United States Patent 6,975,212) by the United States Patent and Trademark Office. The...
- Research articles 2005-12-15
- U.S. Patent and Trademark Office Affirms Key PCTEL Modem Patent; Fundamental ``Soft'' Modem Patent Strengthened As Result Of Reexamination; First Patent Ever Filed By PCTEL
- CHICAGO -- Judge Rejects Lucent and Agere's Motion
- Research articles 2004-07-29
- U.S. Patent and Trademark Office Issues Patent to CDEX Inc.; Patent Provides System and Method for Detecting a Chemical Substance Using X-Ray Fluorescence
- ROCKVILLE, Md. -- CDEX Inc. (OTCBB:CEXI) announced today that the U.S. Patent and Trademark Office USPTO has issued patent number 7,106,826 to CDEX Inc. The patent is a system and method patent for detecting chemical substances using x-ray fluorescence.
- Research articles 2006-09-14
- U.S. Patent and Trademark Office to Confirm Patentability of Lipitor Basic Patent
- NEW YORK -- Pfizer Inc announced today that the U.S. Patent & Trademark Office has issued a communication notifying the company that it will confirm the patentability of the claims of Pfizer's '893 basic patent for Lipitor. The Patent Office had conducted a re-examination of the '893 patent in response...
- Research articles 2008-04-30
- Goldman Sachs Opens Patent Submission for GSTrUE
- NEW YORK -- The Goldman Sachs Group, Inc. (NYSE: GS) announced that it will open its patent filing for its technology platform for privately offered securities, including Goldman Sachs Tradable Unregistered Equity GSTrUE. The patent submission, filed earlier in the year, will be available for public comment under the U.S....
- Research articles 2007-09-17
- Provectus Receives Patent Protection Notice From U.S. Patent Office
- Patent to Protect Radiochemical Diagnostic Applications
- Research articles 2007-10-17
- Provectus Pharmaceuticals Receives Patent Allowance from U.S. Patent and Trademark Office
- Patent to Protect Novel Photodynamic Drug
- Research articles 2007-12-05
- Dyax Corp. Issued Fifth U.S. Patent in Its Phage Display Patent Portfolio
- CAMBRIDGE, Mass. -- Dyax Corp. (Nasdaq:DYAX) announced today that the United States Patent and Trademark office issued U.S. Patent No. 6,979,538, Dyax's fifth U.S. patent covering its proprietary Phage Display technology. This new patent provides Dyax with additional patent claims that cover methods for displaying antibodies on filamentous bacteriophage. In...
- Research articles 2006-01-10
- Provectus Receives Patent Allowance From U.S. Patent Office
- Patent to Protect Radiotherapy Drugs
- Research articles 2007-10-30
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