letters patent
Definition
A letters patent is an official government document that grants a person or business an exclusive right, privilege, or title that is enforceable against everyone else in the public. Today, most people encounter this term in the context of patents for inventions, where the government gives you the sole right to make, sell, or use your invention for a set period of time. The word 'patent' literally means 'open' in Latin, because historically these documents were publicly displayed rather than sealed shut like private letters.
Example
If you invented a new type of coffee brewing device and received a letters patent from the U.S. Patent and Trademark Office, no other company could legally manufacture or sell that same device without your permission for up to 20 years.
Watch Out
Getting a letters patent does not automatically stop competitors from copying you since you are responsible for monitoring the market and taking legal action against anyone who infringes on your rights.
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This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.