Letters Patent - Definition
Written by Jason Gordon
Updated at December 17th, 2020
- Marketing, Advertising, Sales & PR
- Accounting, Taxation, and Reporting
- Professionalism & Career Development
-
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Business Management & Operations
- Economics, Finance, & Analytics
- Courses
Back To: Real Estate, Personal, & Intellectual Property
Letters Patent Definition
A letter patent refers to an instrument backed by law that gives an individual or corporation the right, monopoly or recognized status, dignity or title which is attributed to a discovery or an innovation. When an individual or corporation creates new innovation or makes new recovery, a letter patent is the exclusive rights they enjoy over the new development. Letter patents can be a written or printed document that a designated authority or sovereign power grants an individual or a corporation. A government authority such as a monarch, president, head of state, prime minister can confer patent patents on patentee (the receiver).
A Little More on What is Letters Patent
The general public can view a letter patent, it is not a sealed document, neither is it a high-class information. The patent office or trademark agency makes letter patents available for public viewing. Through letters patent, the exclusive rights granted to an individual or corporation for an invention lasts for a period of 20 years. Letters patent are also called license. Letters close are direct opposite of letters patent in that these legal instruments are personal and not released for public viewing.
References for Leverage
https://en.wikipedia.org/wiki/Letters_patenthttps://www.upcounsel.com/letters-patent6https://www.investopedia.com/terms/l/letters-patent.asp