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"The patent internalizes the externality by giving the [inventor] a property right over its invention." [108] In accordance with the original definition of the term "patent", patents are intended to facilitate and encourage disclosure of innovations into the public domain for the common good.
This is a list of legal terms relating to patents and patent law.A patent is not a right to practice or use the invention claimed therein, but a territorial right to exclude others from commercially exploiting the invention, granted to an inventor or their successor in rights in exchange to a public disclosure of the invention.
The issue of novelty often arises during patent examination, because of inadvertent and/or partial disclosures by inventors themselves prior to filing a patent application. [citation needed] Unlike the laws of most countries, the US patent law provides for a one-year grace period in cases of inventor's own prior disclosure. [28]
The original patent term under the 1790 Patent Act was decided individually for each patent, but "not exceeding fourteen years". The 1836 Patent Act (5 Stat. 117, 119, 5) provided (in addition to the fourteen-year term) an extension "for the term of seven years from and after the expiration of the first term" in certain circumstances, when the inventor hasn't got "a reasonable remuneration for ...
A patent is an exclusionary right – preventing others from entering the market – and so its effect may be to increase the patent proprietor's income from that market. The major economic effect is the exclusivity period of the patent rights, when exploitation pays back for the enterprise that funded research and development. However ...
In U.S. patent practice at least, inventors may "act as their own lexicographer" in a patent application. That means that an inventor may give a common word or phrase a meaning that is very specific and different from the normal definition of said word or phrase.
Judging patentability is one aspect of the official examination of a patent application performed by a patent examiner and may be tested in post-grant patent litigation. Prior to filing a patent application, inventors sometimes obtain a patentability opinion from a patent agent or patent attorney regarding whether an invention satisfies the ...
Letters patent take the form of an open letter from the monarch to a subject, although this is a legal fiction and they are in fact a royal decree made under the royal prerogative and are treated as statute law. [5] Letters patent do not require the consent of parliament. [6] Specific usage in Commonwealth realms outside the United Kingdom include: