Exhaustion

Exhaustion

In intellectual property protection, the principle that once a product has been sold on a market, the intellectual property owner no longer has any rights over it. (A debate among WTO member governments is whether this applies to products put on the market under compulsory licenses.) Countries laws vary as to whether the right continues to be exhausted if the product is imported from one market into another, which affects the owners rights over trade in the protected product.

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Part of Speech: noun
Synonym(s):
Blossary:
Industry/Domain: Economy
Category: International trade
Organization: WTO
Product:
Acronym-Abbreviation:

Collect to Blossary

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Related terms

exhaustible

Education; SAT vocabulary

Causing or tending to cause exhaustion.

exhaustive

Education; SAT vocabulary

Thorough and complete in execution.

exhaust

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To empty by draining off the contents.

exhaustion

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Deprivation of strength or energy.

exhaustion

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(1) To expel spent fumes. (2) The spent fuel after combustion takes place in an internal combustion engine. Sometimes it refers to the exhaust system.

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Economy; International trade

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Customs duty rate which varies in response to domestic price criterion.

voluntary restraint arrangement (VRA)

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waiver

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Permission granted by WTO members allowing a WTO member not to comply with normal commitments. Waivers have time limits and extensions have to be justified.