Legal Definitions - anticipation

Anticipation, in a legal context, refers to the act of performing an action, making a disclosure, or dealing with an asset or obligation before it is legally due, officially recognized, or publicly known. It often involves taking premature action that can have significant legal consequences, particularly in areas like patent law and financial transactions.

• In Patent Law: Anticipation occurs when an invention, for which a patent is sought, was already known, used, or publicly disclosed by someone else (or even by the inventor themselves) before the patent application was filed. If an invention has been anticipated, it means it is not considered new or novel enough to qualify for a patent.

  Example: An engineer invents a groundbreaking new engine design. Before filing a patent application, they publish a detailed article in a widely read engineering journal, fully describing the engine's mechanics and benefits. Later, when they apply for a patent, the patent office denies it because their own prior publication "anticipated" the invention. The detailed description in the journal made the invention publicly known before the patent application, thus removing its novelty.

• In Financial Transactions and Property Law: Anticipation refers to the act of assigning, transferring, or otherwise dealing with future income, assets, or rights before they are actually received or become legally due.

  Example: A budding author signs a contract for a book deal that promises a significant royalty payment one year after the book's release. Needing funds immediately to cover living expenses while writing, the author enters into an agreement with a specialized financial company. This company provides a lump sum payment now in exchange for the right to receive a portion of the author's future royalty payment directly from the publisher when it becomes due. Here, the author is "anticipating" their future royalty income by monetizing it in the present.