Quick Answer: What Does Proprietary Mean In Law?

What is a proprietary rights agreement?

Also known as Proprietary Information and Inventions Assignment Agreements (or PIIAAs), Confidential Information and Inventions Assignment Agreements ensure that intellectual property and other proprietary rights created by employees during the course of their employment are assigned to the employer..

How do you use the word proprietary?

Proprietary in a Sentence 🔉The soft drink company uses it proprietary formula to exclusively make its best selling beverage. … Because the company tried to steal our proprietary recipe, we took them to court. … Wall Street hedge funds use proprietary algorithms to make the best trades for their clients.More items…

What is another word for proprietary?

In this page you can discover 6 synonyms, antonyms, idiomatic expressions, and related words for proprietary, like: established, fashionable, restrictive, exclusive, proprietorship and nonproprietary.

What is right in personam?

A Latin term meaning “against a person.” An in personam proceeding decides the personal rights and interests of the parties named in the action. For example, a plaintiff may bring an in personam action against a defendant for breach of a contract.

What is meant by proprietary products?

From Longman Business Dictionary proˌprietary ˈproduct [countable] a product sold under a brand name owned by a company, rather than a GENERIC name (=a general name for a type of product)a proprietary product, called Danafate, that treats stomach ulcers → product.

What is a proprietary medicine?

A proprietary medicine is a preparation that is owned or controlled by an individual or individuals. This control is held either by a copyright or trade name, or by a patent. Proprietary preparations controlled by copyright or trade names are generally mixtures, and are often secret or semi-secret in character.

What is the definition of proprietary?

belonging or controlled as property. (of a brand name, product, service, formula, etc.) protected by a patent, copyright, or trademark: proprietary drugs; a proprietary name; a proprietary logo; a proprietary blend of ingredients. privately owned and operated for profit: proprietary hospitals.

What is the meaning of proprietary rights?

n. those rights which go with ownership of real property or a business.

What does proprietary position mean?

Proprietary (or prop) trading is a high-risk form of trading where instead of acting on clients orders and receiving commission payments, the trader assumes his own position with the capital of the firm. This means they will experience the full profit or loss of the position.

What are the disadvantages of proprietary software?

Proprietary software also has a number of disadvantages: There is an initial or ongoing (subscription) cost. Software cannot be adapted to meet the needs of the user. Only the machine code version of the software is distributed, which cannot be edited.

What is an example of proprietary?

Examples of proprietary software include Microsoft Windows, Adobe Flash Player, PS3 OS, iTunes, Adobe Photoshop, Google Earth, macOS (formerly Mac OS X and OS X), Skype, WinRAR, Oracle’s version of Java and some versions of Unix.

What is the difference between personal and proprietary rights?

Proprietary rights are enforceable against the property itself. Personal rights are enforceable against the person who granted the rights at the first place. …

What is a proprietary algorithm?

Search engines use proprietary algorithms to display the most relevant results from their search index for specific queries. … In computer programming, algorithms are often created as functions. These functions serve as small programs that can be referenced by a larger program.

What is a proprietary relationship?

As a noun, a proprietor or owner; one who has the exclusive title to a thing; one who possesses or holds the title to a thing in his or her own right; one who possesses the dominion or ownership of a thing in his or her own right. Proprietary refers to ownership or characteristics relating to ownership. …

What is a proprietary system in business?

Proprietary technology is a series of processes, tools, or systems owned by business or individual, which provide the owner with a benefit or competitive advantage.