Patent

Beginner ⚖️ Legal

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