Definition
A government-granted monopoly on an invention, giving the owner the exclusive right to make, use, or sell it for a limited time. It's legally sanctioned greed.
Example Usage
The company obtained a patent for its manufacturing process.
Origin
From Latin 'patens,' meaning open or exposed; ironic given that patents require public disclosure
Fun Fact
Patent trolls now buy up patents specifically to sue other companies, even if they never made the product—it's rent-seeking legally weaponized.
Source: Intellectual property law
Related Terms
Translate This Term
See “Patent” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
Try the Translator