The most common type of patent; issued for useful inventions that are new (novel) and that produce results that are not expected by those working in the field of invention (nonobvious). A utility patent lasts for 20 years from the patent application's filing date. (See also: patent, novelty, nonobviousness)
The right to use property -- or income from property -- that is owned by another.
A requirement for obtaining a utility patent. A patented invention must have some functional purpose or utility. The purpose does not have to be groundbreaking; it can be solely for amusement or a minor improvement on an existing invention.
The right to enjoy the benefits of real estate or personal property (but primarily used in reference to real estate), whether the owner of the right owns the property.
A debt that doesn't give the creditor the right to take a particular item of property if the debtor doesn't pay. Examples include credit card debts and medical bills. Compare: secured debt
A legal action to evict a tenant that involves properly terminating the tenancy before going to court and seeking possession of the property, unpaid rent, and/or damages. Also known as an eviction lawsuit