Patent and IP Glossary
The following is a glossary of common terms used in the patent and intellectual property fields.
Assignment: The transfer of ownership of a patent from one party to another.
Claim: A statement in a patent that defines the scope of the patent protection. Claims are the most important part of a patent.
Continuation Application: A patent application that claims priority to an earlier patent application and adds new claims.
Copyright: A form of intellectual property protection that protects original works of authorship, such as books, music, and software.
Infringement: The unauthorized use of a patented invention.
Intellectual Property (IP): A broad term that refers to patents, trademarks, copyrights, trade secrets, and other forms of intangible property.
License: Permission granted by a patent owner to another party to use the patented invention in exchange for royalties or other compensation.
Patent: A government-granted right that gives the patent owner the exclusive right to make, use, and sell an invention for a period of 20 years from the date of filing.
Patent Broker: An agent who represents patent owners in the sale, licensing, or other monetization of their patents.
Patent Portfolio: A collection of patents owned by a single entity.
Prior Art: Any evidence that an invention was known or used before the filing date of a patent application.
Royalty: A payment made by a licensee to a patent owner in exchange for the right to use the patented invention.
Trade Secret: Confidential business information that provides a competitive advantage.
Trademark: A word, phrase, symbol, or design that identifies and distinguishes the source of goods or services.
