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Simple English definitions for legal terms
EPC
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A quick definition of EPC:
Term: EPC
Definition: EPC stands for European Patent Convention or Engineering, Procurement, and Construction. The European Patent Convention is an agreement between European countries that allows inventors to apply for a patent that is valid in multiple countries. Engineering, Procurement, and Construction refers to a type of contract used in construction projects where one company is responsible for designing, purchasing materials, and building the project.
A more thorough explanation:
Definition: EPC is an abbreviation that can stand for two different things:
- European Patent Convention: This is an international treaty that establishes a single system for granting patents in Europe. It provides a uniform application procedure and a single set of rules for the granting and protection of patents in its member states.
- Engineering, Procurement, and Construction: This refers to a type of contract used in the construction industry. An EPC contract is a comprehensive agreement that covers the entire process of building a project, from design and engineering to procurement of materials and construction.
For example:
- Example 1: The European Patent Convention was signed in Munich in 1973 and has been in force since 1977. It currently has 38 member states.
- Example 2: The company awarded the EPC contract for the new power plant will be responsible for designing the plant, procuring all necessary equipment and materials, and constructing the facility.
The examples illustrate the two different meanings of the term EPC. The first example shows how EPC can refer to an international treaty that governs the granting and protection of patents in Europe. The second example shows how EPC can refer to a type of contract used in the construction industry that covers the entire process of building a project.