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Patent

According to Black's Law Dictionary, a patent is an "exclusive right to make, use, or sell an invention for a specified period ... granted by the federal government to the inventor if the device or process is novel, useful, and nonobvious." Essentially, a patent gives the inventor a monopoly over the use and sale of the invention for 20 years.

The authority for the federal government to grant patents is found in Article I, Section 8 of the Constitution which reads: "Congress shall have power ... to promote the progress of science and useful arts, by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries." Pursuant to this grant of authority, Congress established the patent laws for the country, and it created the United States Patent and Trademark Office (USPTO), which is responsible for issuing patents.

Patents At Miami

Research performed at the University may result in a patentable invention. Pursuant to Section 3345.14 of the Ohio Revised Code, the University claims all rights to discoveries or inventions, including associated patents, resulting from research or investigation conducted in any facility of the University or financed by the University. However, the University wants to encourage the production of patentable inventions, so it pays the inventor a sizeable portion of the net royalties generated by the patent.

Information regarding the University's internal patent process and the net royalty incentive can be found in Section 15.6.C of the Miami University Policy and Information Manual.

For More Information

For further information regarding patents and the patenting process, see the references below: