Patent
Patent. An exclusive right to sell or produce one's discovery or invention. A patent is good for 20 years.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Patent. An exclusive right to sell or produce one's discovery or invention. A patent is good for 20 years.
According to Principles of Economics by Timothy Taylor (3rd edition),
- Patent. A government rule that gives the inventor the exclusive legal right to make, use, or sell the invention for a limited time.
According to the ASME EMBOK,
- Patent. The exclusive legal right to make, sell, or license novel and useful inventions.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
