Patent

:This article relates to the intellectual property right. A land grant is also called a patent.

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A patent is a set of exclusive rights granted by a state to a person for a fixed period of time in exchange for the regulated, public disclosure of certain details of a device, method, process or substance (known as an invention) which is new, inventive and useful.

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The term "patent" originates from the Latin word patere which means "to lay open" (ie. make available for public inspection) and the term letters patent, which originally denoted royal decrees granting exclusive rights to certain individuals or businesses.

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Intellectual property: In law, particularly in common law jurisdictions, intellectual property or IP refers to a legal entitlement which sometimes attaches to the expressed form of an idea, or to some other intangible subject matter. In general terms this legal entitlement sometimes enables its holder to exercise exclusiv...

Land grant: A land grant is a gift of land made by the government for projects such as roads, railroads, or rewards for military service, or especially academic institutions. In the past (the 1700s), they were given for the purpose of establishing settlements, missions, and farms. During the 1800s, four out of ...

Exclusive right: In law, an exclusive right, is the power or right to perform or choose whether to perform a certain action to the exclusion of all others. In some cases, such a right must be granted to persons by the state, while in others it may be automatically assumed....

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