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A contract giving written permission to use an invention, creative work or trademark. A license provides a way to make money from your invention or creative work without having to manufacture and sell copies yourself. By licensing an invention or work to a company, you get money (often in the form of royalties) in return for allowing the company to use, produce and sell copies of your invention or work in the marketplace.

An old legal term that is generally used to refer to real estate left to someone under the terms of a will, or to the act of leaving such real estate. In some states, 'devise' now applies to any kind of property left by will, making it identical to the term bequest. Compare legacy.

A statement included in a patent application that describes the structure of an invention in precise and exact terms, using a long established formal style and precise terminology. Patent claims serve as a way for the U.S. Patent and Trademark Office (PTO) to determine whether an invention is patentable, and as a way for a court to determine whether a patent has been infringed. In concept, a patent claim marks the boundaries of the patent in the same way as the legal description in a deed specifies the boundaries of the property.

A computer-based service that provides real estate professionals with detailed listings of most homes currently on the market. Much of the information can now be obtained by the public through websites like www.realtor.com.

Another term for real estate. It includes land and things permanently attached to the land, such as trees, buildings, and stationary mobile homes. Anything that is not real property is termed personal property.

Anyone, including a corporation, who rents real property, with or without a house or structure, from the owner (called the landlord). The tenant may also be called the 'lessee.'