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A Patent is an exclusive intellectual property right to an invention.



  • (Wikipedia, 2014) ⇒ Retrieved:2014-7-2.
    • A patent (or ) is a set of exclusive rights granted by a sovereign state to an inventor or assignee for a limited period of time in exchange for detailed public disclosure of an invention. An invention is a solution to a specific technological problem and is a product or a process.[1] Patents are a form of intellectual property.

      The procedure for granting patents, requirements placed on the patentee, and the extent of the exclusive rights vary widely between countries according to national laws and international agreements. Typically, however, a granted patent application must include one or more claims that define the invention. A patent may include many claims, each of which defines a specific property right. These claims must meet relevant patentability requirements, such as novelty and non-obviousness. The exclusive right granted to a patentee in most countries is the right to prevent others from commercially making, using, selling, importing, or distributing a patented invention without permission. Under the World Trade Organization's (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights, patents should be available in WTO member states for any invention, in all fields of technology, [2] and the term of protection available should be a minimum of twenty years. Nevertheless, there are variations on what is patentable subject matter from country to country.




  • (Acs et al., 2002) ⇒ Zoltan J. Acs, Luc Anselin, and Attila Varga. (2002). “Patents and Innovation Counts as Measures of Regional Production of New Knowledge.” In: Research Policy, 31(7). doi:10.1016/S0048-7333(01)00184-6
    • ABSTRACT: The role of geographically mediated knowledge externalities in regional innovation systems has become a major issue in research policy. Although the process of innovation is a crucial aspect of economic growth, the problem of measuring innovation has not yet been completely resolved. A central problem involved in such analysis is the measurement of economically useful new knowledge. In the US information on this has been limited to an innovation count data base. Determining the extent to which the innovation data can be substituted by other measures is essential for a deeper understanding of the dynamics involved. We provide an exploratory and a regression-based comparison of the innovation count data and data on patent counts at the lowest possible levels of geographical aggregation.


  • (Silverman & Stacey, 1996) ⇒ Arnold B. Silverman and George K. Stacey. (1996). (1996). “Understanding 'Patentese' — A Patent Glossary.” In: JOM Journal, 48(9).
    • QUOTE: Patent: A grant by the federal government to an inventor of the right to exclude others from making, using, selling, offering for sale, or importing a patented invention. Patents that cover structural or functional aspects of products, composition, and processes are utility patents. Other types of patents include design patents covering ornamental designs of useful objects and plant patents covering new varieties of living plants.


  • (Scotchmer, 1991) ⇒ Suzanne Scotchmer. (1991). “Standing on the Shoulders of Giants: Cumulative research and the patent law.” In: The Journal of Economic Perspectives.


  • (Pakes, 1986) ⇒ Ariel Pakes. (1986). “Patents as Options: Some estimates of the value of holding European patent stocks." NBER Working Paper #1340.
    • ABSTRACT: In many countries holders of patents must pay an annual renewal fee in order to keep their patents in force. This paper uses data on the proportion of patents renewed, and the renewal fees faced by, post World War II cohorts of patents in France, the United Kingdom, and Germany, in conjunction with a model of patent holders' renewal decisions, to estimate the returns earned from holding patents in these countries. Since patents are often applied for at a nearly stage in the innovation process, the model allows agents to be uncertain about the sequence of returns that will be earned if the patent is kept inforce. Formally, then, the paper presents and solves a discrete choice optimal stochastic control model, derives the implications of the model on aggregate behaviour, and then estimates the parameters of the model from aggregate data. The estimates enable a detailed description of the evolution of the distribution of returns earned from holding patents over their life spans, and calculations of both; the annual returns earned from holding the patents still in force (or the patent stocks) in the alternative countries, and the distribution of the discounted value of returns earned from holding the patents in a cohort.