Patent
A government license that gives the holder exclusive rights to a process, design or new invention for a designated period of time.

Investopedia Says:
In the United States most patents are valid for 20 years. By granting the right to produce a new product without fear of competition, patents provide incentive for companies or individuals to continue developing innovative new products or services.

Related Terms:
Field Of Use
Goodwill
Intangible Asset
Intellectual Property
Non-Disclosure Agreement - NDA
Patent Reexamination
Patent Share
Proprietary Technology
Tangible Asset
Treble Damages

• Disclaim
• Disclaimer Trust
• Disclosure
• Disclosure Statement
• Discount
• Discount Bond
• Discount Broker
• Discounted Cash Flow (DCF)
• Discounted Cash Flow (DCF)
• Discount Margin (DM)
• Discount Margin (DM)
• Discount Note
• Discount Points
• Discount Rate
• Discounts For Lack Of Marketability (DLOM)
• Discounts For Lack Of Marketability (DLOM)
• Discount To Net Asset Value
• Discouraged Worker
• Discretionary Account
• Discretionary ARM
• Discretionary Cash Flow
• Discretionary Income
• Discretionary Order
• Diseconomies Of Scale
• Disequilibrium