PATENT Definition

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PATENT is a legal form of protection that provides a person or legal entity with exclusive rights to exclude others from making, using, or selling a concept or invention for the duration of the patent. There are three types of patents available: design, plant, and utility.

Learn new Accounting Terms

FACTORY OVERHEAD is the costs of operating a factory which cannot be assigned directly to a specific department or product.

FULL ABSORPTION COSTING see ABSORPTION COSTING.

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