3. 2. "licensing" in a sentence [Economics] Allowing another firm, for payment, to make use of a patent or trademark. Since the creation of the first mechanism to protect inventions in 15 th century, the patent system has evolved with a view to promote innovation and encouraging economic development. ð. (Entry 1 of 3) 1 a : open to public inspection âused chiefly in the phrase letters patent. A patent is issued only after a search by the applicant and by the Patent Office of prior patented inventions. - For each problem, the⦠Cambridge Dictionary +Plus Definition of Patent. The concept of economic rent is a more useful concept than monopoly for analyzing patent law. Patent: A document issued by the patent office that purports to give an inventor the exclusive right to make, use and sell an invention as specified in the claims of that patent. laissez-faire. The economics of patents has two distinct components, one normative and one positive. The first is directed towards questions of optimal patent policy, the existence and strength of patents, and the design of the patent system. A patent gives the owner the exclusive rights to sell, market, license, or otherwise generate revenue from an invention, innovation, or production technique. Drug patents do help produce drugs. ent (pÄtâ²nt) n. 1. a. A grant of publicly owned land, particularly to a homesteader. Unlike math, economics is not an exact science because it relies on human behavior. an official government document that allows the creator of a product to only create and sell this product for a period of time. JEL CLASSIFICATIONS: K11, K21, K22, K23, K39, K41, L40, O31, O34, P14 THE CASE FOR REGISTERING PATENTS AND THE LAW AND ECONOMICS OF PRESENT PATENT-OBTAINING RULES F. Scott Kieff * Abstract The legal rules for determining whether an inventor is entitled to a patent ⦠Patent definition, the exclusive right granted by a government to an inventor to manufacture, use, or sell an invention for a certain number of years. encourages innovations in some cases and discourages it in other cases Patents have a long history, although some of the earliest patents are simply the grant of a legal monopoly in a particular good rather than protection of an invention from imitation. barriers to entry. The blind spot by buyang market to product diff More example sentences. Letters patent. The patent covers technology particularly useful in deepwater hydrocarbon production. Division A will see its own price discrimination problem. Sentence Examples. noun. 2. Examples of patent in a sentence, how to use it. Patents are legal instruments intended to encourage innovation by providing a limited monopoly to the inventor (or their assignee) in return for the disclosure of the invention. After the merger of the two airlines, less staff was needed and many of the employees were let go. patent in a sentence - Use patent in a sentence and its meaning 1. The merger of the two companies happened in February when the smaller corporation joined the larger. They can then build economic models that allow them to apply a change to each factor one by one. At the same time, basic wireless technology is becoming commoditized, which lowers barriers to entry for newcomers, especially from Asia. From Cambridge English Corpus. But, after starting the process of getting a patent earlier this year, I received a reply saying that it might not be patentable. It dramatically speeds the ability of American companies to get patents. A patent gives inventors the rights to own their inventions. How to use barriers to entry in a sentence. A patent is an exclusive right granted for an invention. There is simply no way that words can cover the same amount of ground as a good drawing, and that holds true when you write a 3. They say that a drawing speaks a thousand words. A patent grants There are those who discover and invent, and who do not patent. It was just a secret, not a patent; the thing ain't patentable. These words are quoted from my first patent relating to this subject. No dial or dial gearing is shown in the patent or exists in the patent model. International patent protection was a key issue at the multilateral trade talkssponsored by the World Trade Organization in Cancun in September 2003. § 1831(a)(5), one count of conspiracy to commit theft of trade secrets, in violation of 18 U.S.C. communism. Gene Quinn is a Patent Attorney and Editor and President & CEO ofIPWatchdog, Inc..Gene founded IPWatchdog.com in 1999. Compare with letters patent. T he general reaction to the apparent end of the era of cheap fossil fuel, as to other readily foreseeable curtailments, has been to delay any sort of reckoning. Synonyms: private enterprise. Faustian Economics. The patent describes a novel design of the dewar vessel with a helmet-shaped recess at one end. 2. You can therefore think of this as a price discri b. 24 sentence examples: 1. After the consultation with a lawyer regarding my invention of a self-cleaning placemat, the lawyer explained that the patent would take years to acquire for my product. Patents allow supernormal profits to be made â a transfer of wealth to highly profitable monopolists Patents may stifle competition or innovation by others Alternatives to patents might help stimulate research e.g. an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. âhe took out a patent for an improved steam hammerâ. c. An invention protected by such a grant. However, ceteris paribus allows economists to make assumptions that variables like human buying patterns, inflation rates and unemployment will remain fixed over a period of time. In the typical patent case production will either remain the same or increase compared to the pre-patent situation.9 As a result of the invention, protected by the patent, ⦠: a person's exclusive right to reproduce, publish, or sell his or her original work of authorship (as a literary, musical, dramatic, artistic, or architectural work) â see also common-law copyright, fair use at use sense 2, infringe, intellectual property at property, international copyright, original, public domain â compare patent, trademark at point A, B or C) it is not possible to increase output of goods without reducing output of services However, at Point D (16 goods and 17 services) It is possible to increase either without leading to a decline in the output of the other. This is a method of profiting by a patent without investment on the scale necessary to exploit an innovatory idea for oneself. This tool is especially useful when starting a ⦠Thus, it is generally accepted that patents should continue just long enough so that monopoly profits can repay the costs of development of the invention. Some of the women wear patent leather shoes studded with diamonds. Ceteris Paribus in Economics. b (1) : secured by letters patent or by a patent to the exclusive control and possession of a particular individual or party patent foodstuffs have acquired an ⦠An example of patent is a protection afforded to the makers of Converse All Star sneakers. 14 sentence examples: 1. Higher socio-economic status of patents may increase risk for bipolar disorder in ⦠The sentence was handed down by The Honorable Edward J. Davila, U.S. District Court Judge, following a four-day bench trial on one count of conspiracy to commit economic espionage, in violation of 18 U.S.C. The publication of the invention is mandatory to get a patent. Examples of patents in a sentence: 1. Indeed,since the organization was founded almost ten years ago, the international protectionof intellectual property rights (IPR) has been a bone of contention between developingand industrialized countries.
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