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Patent law. In a patent or patent application, the claims define in technical terms the extent, i.e. the scope, of the protection conferred by a patent, or the protection sought in a patent application. In other words, the purpose of the claims is to define which subject-matter is protected by the patent (or sought to be protected by the patent ...
Legislative history. Introduced in the Senate as "America Invents Act" ( S. 23) by Patrick Leahy ( D – VT) on January 25, 2011. Committee consideration by Judiciary Committee. Passed the Senate on March 8, 2011 ( 95–5) Passed the House on June 23, 2011 ( 304-117) with amendment. Senate agreed to House amendment on September 8, 2011 ( 89-9 ...
Royalty payment. A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and ...
Patent box. A patent box is a special very low corporate tax regime used by several countries to incentivise research and development by taxing patent revenues differently from other commercial revenues. [1] It is also known as intellectual property box regime, innovation box or IP box.
In international law and business, patent trolling or patent hoarding is a categorical or pejorative term applied to a person or company that attempts to enforce patent rights against accused infringers far beyond the patent's actual value or contribution to the prior art, [1] often through hardball legal tactics (frivolous litigation, vexatious litigation, strategic lawsuits against public ...
Advanced Placement ( AP) [ 4] is a program in the United States and Canada created by the College Board. AP offers undergraduate university-level curricula and examinations to high school students. Colleges and universities in the US and elsewhere may grant placement and course credit to students who obtain qualifying scores on the examinations.
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The highest and best use of the site is to demolish the house and sell the site as a commercial lot. The market value would be $225,000 ($250,000 site value minus $25,000 demolition cost). However, if the demolition costs rose to $55,000, the highest and best use would be the existing residential use, because the value as a commercial lot (now ...