A patent is a temporary monopoly that is granted for any device, substance, method or process that is new, inventive, and useful. In return for the right to exploit the monopoly commercially, usually for 20 years, the applicant agrees to publish the details of their idea and to allow the use of the invention by others after the expiry of the patent. Patents may be granted for a range of inventions, such as mechanical devices, computer software and some business methods. You cannot patent an idea, only the expression of an idea. See also Intellectual Property.« Back to Glossary Index
Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.