Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
As used in this subchapter:
(1) “Center” means the Center for Prototype Development and Emerging Technologies to be developed and operated by the University of Arkansas at Little Rock;
(2) “Commercial state” means the point at which a product has been developed beyond the theoretical and prototype stage and is capable of being manufactured or practiced commercially;
(3) “Gross sales revenues” means all revenues or anything of value received by any person from the sale of a proprietary product;
(4) “Intellectual property” means patents, copyrights, or trademarks acquired pursuant to federal or state law or applications for patent or for copyright or trademark registration;
(5) “Inventor” means any person who conceives a new concept which may result in a proprietary product;
(6) “Person” means any individual, sole proprietor, partnership, or corporation;
(7) “Product” means any device, technique, process, item of manufacture, composition of matter, or work of authorship;
(8) “Product development plan” means a plan prepared by the center for developing a product to the commercial state;
(9) “Proposal” means a plan provided by the inventor which includes technical and descriptive information on a product;
(10) “Proprietary product” means a product patented, copyrighted, or trademarked pursuant to federal or state law or for which an application for patent or for copyright or trademark registration is pending; and
(11) “Royalties” means all things of value received by an inventor in connection with the licensing of a proprietary product or the assignment, sale, or licensing of intellectual property.
Cite this article: FindLaw.com - Arkansas Code Title 15. Natural Resources and Economic Development § 15-4-1402. Definitions - last updated January 01, 2020 | https://codes.findlaw.com/ar/title-15-natural-resources-and-economic-development/ar-code-sect-15-4-1402.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?