Legal Definitions - patent term

The patent term refers to the specific duration for which a patent remains legally effective, granting its owner exclusive rights to their invention.

During this period, the patent holder has the sole legal authority to make, use, sell, or import the patented invention, and can prevent others from doing so without permission. In many countries, including the United States, the standard patent term for utility patents is 20 years from the date the patent application was filed.

Here are some examples to illustrate the concept of a patent term:

• Imagine a pharmaceutical company that invents a groundbreaking new medication for a common illness. Once they successfully obtain a patent for this drug, the patent term begins. For the next 20 years, this company holds the exclusive right to manufacture, market, and sell this specific medication. This means no other pharmaceutical company can produce a generic version of that drug until the patent term expires, allowing the original inventor to recoup their research and development costs and profit from their innovation.

• Consider an individual inventor who develops a unique, energy-efficient engine design for vehicles. After successfully navigating the patent application process, they are granted a patent. The patent term ensures that for the next two decades, this inventor has the exclusive legal right to produce, license, or sell engines incorporating their specific design. During this period, other car manufacturers cannot legally copy or use this patented engine design without the inventor's permission, giving the inventor a significant competitive advantage.

• A technology startup creates a novel algorithm that significantly improves data compression for streaming video. They secure a patent for this innovative software method. The patent term dictates that for the next 20 years, this startup possesses the exclusive right to implement or license this particular algorithm. Competitors in the streaming industry cannot legally integrate this patented compression method into their own services until the patent term concludes, protecting the startup's intellectual property and market position.