Business Terms Glossary
Patent
Definition of Patent
A Patent is a property right granted to an inventor to exclude others from making, using, offering for sale, or selling the invention for a limited time in exchange for public disclosure of the invention when the patent is granted.
Many VCs (venture capitalists) like patents because they offer a barrier to entry to future competitors. However, having a patent does not guarantee anything; patents are routinely dismissed in patent litigation. Having said that, patents in and of themselves tend to have a value. There are many patent aggregators who buy patents, and a company can be acquired simply because its patents are viewed as being strategic by the acquiring company.
Patents are part of a larger body of work called intellectual property that looks at how ideas are protected.
Patent References On This Site
These Gaebler.com articles mention this glossary term:
- International Patents - patent, your invention may be vulnerable to infringement and duplication overseas - unless you know how to put international patent law to work for your business...
- Patent Infringement - The unlawful use of a patented device or concept is called patent infringement. Federal law describes patent infringement as "whoever without...
- Trademark Searches - If you plan to register your trademark with the United States Patents and Trademarks Office (USPTO), a trademark search is a...
- Keeping Business Records Organized - According to experts in records management, businesses, associations and not-for-profits should permanently keep the following documents: Audit reports Board minutes Cancelled checks for special contracts, important payments, asset purchases and payment of taxes�keep each check with the appropriate documentation to explain the purchase Capital stock and bond records Cash books Charts of accounts Computer backups Constitution and bylaws Contracts and leases (those that are still in effect) Correspondence concerning legal and other important matters Deeds, bills of sale and mortgages Depreciation schedules Insurance records Minutes for directors�, stockholders� and charter meetings Payroll records Property records, including blueprints and plans Retirement information, including IRA and Keogh contributions Stock and bond certificates�even the cancelled ones Tax returns Trademark, copyright and patent registration...
- University Technology Transfer Offices - Although the commercial value of an invention is important to the university, there is a lot more at stake than a financial payoff since patents are typically issued only to practical processes � not theoretical...
- Famous Scientist Entrepreneurs - Upon receiving the patent for his roll film camera in 1888, he immediately...
- Patent Attorney Hourly Rates - In addition to filing fees, many applicants find it helpful to recruit the services of a qualified patent attorney. But how much should you expect to pay...
- Investing in Patents - But in reality, patent investment is a lot more complicated than it seems...
- Can I Patent a Business Idea? - Believe it or not, it you may even be able to obtain a patent for your idea...
- Accounting Terminology for Entrepreneurs: D, E, F - Examples of diminishing assets are copyrights, patents, contracts, etc...
- Planning an FDA Strategy - We look at what organizations must do in order to motivate employees to create proprietary science and apply for patents...
- Loosening the Reins - We look at what organizations must do in order to motivate employees to create proprietary science and apply for patents...
- Stirring Public Interest - Of course, if you are still employed at an academic institution, the Technology Transfer Office will serve a managerial role, and all patent disclosures, publications, collaborations and negotiations MUST be handled through...
- Financing the Company - The company will also need an excellent business plan that addresses its FDA, patent and market strategies. Local technology incubators can help with...
- Preparing for Due Diligence - We look at what organizations must do in order to motivate employees to create proprietary science and apply for patents...
- Interview with Innovative Crib Designs Founder Mary Anne Amato - But, the background work started about 2 years prior, with research, fund raising, and patent process...
- Business Environment - India - As far as intellectual property is concerned, the scope of recognition of patents is restricted. Thus, entrepreneurs may have to use other...
- The Concept of Asset Depreciation Part 1 - For example, subscribers list, trademarks, patents, franchises business license. These are not depreciable instead �amortized...
- Five Questions to Ask the Patent Lawyer - Like any area of law, patent law attracts both competent and incompetent legal professionals. So...
- Prior Art - If prior art exists, it's likely that it will be impossible to maintain an approved patent for your invention...
- Understanding Patents and Trademarks - For years, inventors have protected their ideas with patents. Small business owners can also benefit from patents and...
- Ways to Buy a Business - When buying a company's assets, you can buy intangible assets, such as the name of the firm, customer lists, patents, trademarks and contracts. Importantly, you can opt to not...
- Getting It In Writing - The default rule in the US is that the employer owns all inventions made by its employees and that co-owners of a patent can each use or license the patent WITHOUT paying the other...
- Planning a Patent Strategy - Additionally, companies should file patent applications as early as possible to beat possible competitors...
- Deducting Business-Related Legal Expenses - The types of legal expenses that many business owners deduct after they have gotten past the startup stage (and that don't otherwise require capitalization) include: applying for patents, trademarks and copyrights; preparing and revising contracts; collecting debts...
- Valuing Intellectual Property - Ultimately, the valuation process must take into account several factors, including the following: Importance Not all patents are created equal. Some patents represent important breakthroughs, paving...
- How Long Does It Take to Get a Patent? - Since time is always a factor for entrepreneurially-minded inventors, you need to know how long it really takes to get a patent...
- Question to Ask My Patent Attorney - To succeed, you need to be on top of your game � and it begins with knowing the right questions to ask your patent lawyer...
- Patent Infringement and Litigation - Patent infringement is the manufacture, use, or sale of a patented technology without the permission of the patent owner. To qualify as infringement, the infringer's product...
- Accounting Terminology for Entrepreneurs: G-L - Examples of intangible assets are copyrights, patents, goodwill, etc...
- 10 Tips for Navigating from the Laboratory to the Market Place - We look at what organizations must do in order to motivate employees to create proprietary science and apply for patents...
- Getting Inventorship Right - In other words, the inventor is the person or persons who had a "definite and firm idea" of the invention, and the "invention" is defined with reference to the actual patent claims...
- Using Hardbound Notebooks - We look at what organizations must do in order to motivate employees to create proprietary science and apply for patents...
- Examining Your Business Idea - Examples of strengths: Superior expertise in an industry Patent protected product...
- What Business Strategy is Not - Many entrepreneurs who secure patents for their technology think that they now have a...
- How to Overcome Business Weaknesses - The SBA says small businesses produce 13 more patents per employee than larger companies. So if they are...
- Accounting Terminology for Entrepreneurs: A - Example: if a company purchased a patent for $4 million dollars that will expire in 10...
- Cultivating A Culture of Invention - After all, without commercialization, even the best science will never benefit the public and without patents, basic research often can't get funded...
- Interview with TTB Technologies Founder John Boyd - In addition to MeetingWave and related intellectual property including US Patent No. 6,963,900 entitled "Computer-based networking service...
- Interview with Kidzsack Founder Tina Hill - Last, and very important, don�t slack on getting your tm or patent. Make an appointment with a few different attorneys who...
- Tips When Commercializing Research - In addition to understanding the science behind the discovery, you need to understand its commercial applications, the patent process, and any number of business-related issues. Even...
- Interview with SlimTree.com Founder Jas Singh - Currently I have two patents pending � one for Slimtree.com's proprietary video download...
- Don't Solve a Problem You Don't Have - At the time the founders noticed that a Chinese company was selling their same software that was patent protected, the founders decided to invest their time and...
- International Patents - patent, your invention may be vulnerable to infringement and duplication overseas - unless you know how to put international patent law to work for your business...
- Trademark Searches - If you plan to register your trademark with the United States Patents and Trademarks Office (USPTO), a trademark search is a...
- University Technology Transfer Offices - Although the commercial value of an invention is important to the university, there is a lot more at stake than a financial payoff since patents are typically issued only to practical processes � not theoretical...
- How Long Does It Take to Get a Patent? - Since time is always a factor for entrepreneurially-minded inventors, you need to know how long it really takes to get a patent...
- Patent Infringement and Litigation - Patent infringement is the manufacture, use, or sale of a patented technology without the permission of the patent owner. To qualify as infringement, the infringer's product...
- Accounting Terminology for Entrepreneurs: D, E, F - Examples of diminishing assets are copyrights, patents, contracts, etc...
- Cultivating A Culture of Invention - After all, without commercialization, even the best science will never benefit the public and without patents, basic research often can't get funded...
- Planning an FDA Strategy - We look at what organizations must do in order to motivate employees to create proprietary science and apply for patents...
- Preparing for Due Diligence - We look at what organizations must do in order to motivate employees to create proprietary science and apply for patents...
- Business Environment - India - As far as intellectual property is concerned, the scope of recognition of patents is restricted. Thus, entrepreneurs may have to use other...
- The Concept of Asset Depreciation Part 1 - For example, subscribers list, trademarks, patents, franchises business license. These are not depreciable instead �amortized...
- Five Questions to Ask the Patent Lawyer - Like any area of law, patent law attracts both competent and incompetent legal professionals. So...
- Patent Infringement - The unlawful use of a patented device or concept is called patent infringement. Federal law describes patent infringement as "whoever without...
- Keeping Business Records Organized - According to experts in records management, businesses, associations and not-for-profits should permanently keep the following documents: Audit reports Board minutes Cancelled checks for special contracts, important payments, asset purchases and payment of taxes�keep each check with the appropriate documentation to explain the purchase Capital stock and bond records Cash books Charts of accounts Computer backups Constitution and bylaws Contracts and leases (those that are still in effect) Correspondence concerning legal and other important matters Deeds, bills of sale and mortgages Depreciation schedules Insurance records Minutes for directors�, stockholders� and charter meetings Payroll records Property records, including blueprints and plans Retirement information, including IRA and Keogh contributions Stock and bond certificates�even the cancelled ones Tax returns Trademark, copyright and patent registration...
- Famous Scientist Entrepreneurs - Upon receiving the patent for his roll film camera in 1888, he immediately...
- Question to Ask My Patent Attorney - To succeed, you need to be on top of your game � and it begins with knowing the right questions to ask your patent lawyer...
- Can I Patent a Business Idea? - Believe it or not, it you may even be able to obtain a patent for your idea...
- Accounting Terminology for Entrepreneurs: G-L - Examples of intangible assets are copyrights, patents, goodwill, etc...
- Getting Inventorship Right - In other words, the inventor is the person or persons who had a "definite and firm idea" of the invention, and the "invention" is defined with reference to the actual patent claims...
- Loosening the Reins - We look at what organizations must do in order to motivate employees to create proprietary science and apply for patents...
- Interview with Innovative Crib Designs Founder Mary Anne Amato - But, the background work started about 2 years prior, with research, fund raising, and patent process...
- Examining Your Business Idea - Examples of strengths: Superior expertise in an industry Patent protected product...
- Don't Solve a Problem You Don't Have - At the time the founders noticed that a Chinese company was selling their same software that was patent protected, the founders decided to invest their time and...
- Prior Art - If prior art exists, it's likely that it will be impossible to maintain an approved patent for your invention...
- Valuing Intellectual Property - Ultimately, the valuation process must take into account several factors, including the following: Importance Not all patents are created equal. Some patents represent important breakthroughs, paving...
- Tips When Commercializing Research - In addition to understanding the science behind the discovery, you need to understand its commercial applications, the patent process, and any number of business-related issues. Even...
- Patent Attorney Hourly Rates - In addition to filing fees, many applicants find it helpful to recruit the services of a qualified patent attorney. But how much should you expect to pay...
- Investing in Patents - But in reality, patent investment is a lot more complicated than it seems...
- Understanding Patents and Trademarks - For years, inventors have protected their ideas with patents. Small business owners can also benefit from patents and...
- Ways to Buy a Business - When buying a company's assets, you can buy intangible assets, such as the name of the firm, customer lists, patents, trademarks and contracts. Importantly, you can opt to not...
- How to Overcome Business Weaknesses - The SBA says small businesses produce 13 more patents per employee than larger companies. So if they are...
- Accounting Terminology for Entrepreneurs: A - Example: if a company purchased a patent for $4 million dollars that will expire in 10...
- 10 Tips for Navigating from the Laboratory to the Market Place - We look at what organizations must do in order to motivate employees to create proprietary science and apply for patents...
- Getting It In Writing - The default rule in the US is that the employer owns all inventions made by its employees and that co-owners of a patent can each use or license the patent WITHOUT paying the other...
- Using Hardbound Notebooks - We look at what organizations must do in order to motivate employees to create proprietary science and apply for patents...
- Planning a Patent Strategy - Additionally, companies should file patent applications as early as possible to beat possible competitors...
- Stirring Public Interest - Of course, if you are still employed at an academic institution, the Technology Transfer Office will serve a managerial role, and all patent disclosures, publications, collaborations and negotiations MUST be handled through...
- Financing the Company - The company will also need an excellent business plan that addresses its FDA, patent and market strategies. Local technology incubators can help with...
- Interview with TTB Technologies Founder John Boyd - In addition to MeetingWave and related intellectual property including US Patent No. 6,963,900 entitled "Computer-based networking service...
- Interview with SlimTree.com Founder Jas Singh - Currently I have two patents pending � one for Slimtree.com's proprietary video download...
- Deducting Business-Related Legal Expenses - The types of legal expenses that many business owners deduct after they have gotten past the startup stage (and that don't otherwise require capitalization) include: applying for patents, trademarks and copyrights; preparing and revising contracts; collecting debts...
- What Business Strategy is Not - Many entrepreneurs who secure patents for their technology think that they now have a...
- Interview with Kidzsack Founder Tina Hill - Last, and very important, don�t slack on getting your tm or patent. Make an appointment with a few different attorneys who...
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