UK Accounting Glossary
In the US, the phrase patent pending indicates that a patent has been applied for but not yet granted. The term patent-pending can be used as soon as a filing receipt and application number are issued. Patent-pending only signifies that an inventor has applied for a patent with the US Patent and Trademark Office (USPTO). No legal intellectual property rights whatsoever are conferred by the use of the term patent pending. The rationale for the use of the term patent pending by the inventor is to discourage anyone else from applying for a patent on the process or the machine in question. The term patent-pending can be used until the application is approved, rejected, or expires. When no patent has been applied for the use of the term patent pending is prohibited.
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This glossary post was last updated: 6th February 2020.