|
Today's Terms
Antitrust
Definition:
The worst antitrust offenses are price fixing and bid rigging. Price fixing occurs when two or more sellers agree that they will increase prices a certain amount, or that they won't sell below a certain price. Bid rigging most commonly occurs when two or more firms agree not to bid against each other to supply products or services to local, state or federal government agencies, or when they agree on the level of their individual bids.
Generic Name
Definition:
A word used by most people to name a class or category of product or service. No one person may have trademark rights to a generic name.
First to File
Definition:
Patents - a rule under which patent priority, and thus entitlement to a patent, is determined by which inventor was the first to file a patent application, rather than who was first to actually invent.
More Intellectual Property Terms >
|
Did You Know?