. The first argument of this formula is the interest rate, the second the number of periods, the third the annual payments, the fourth is the present value, and the fifth indicates that payments are all made at the end rather than the beginning of each year.
Patenting refers to the system of land appropriation used in Kentucky to transfer land from the Commonwealth to an individual or group of individuals. All deeds trace back to an original patent recorded in the Kentucky Land Office. Land patenting consists of four steps, all of which must be completed before title is granted. Step #1: The Warrant (syn. Certificate, Order) This document authorizes a survey to be made.
A patent means a property right granted by a government agency. A land patent is an official recognition of a claim to a defined piece of real estate. An invention patent is an official recognition of a claim to an invention. It does NOT grant any inherent rights: it grants the right to exclude OTHERS from making, using, selling or importing the claimed invention for the duration of the patent validity. If the patent uses inventions that are claimed by others, the later patent holder must still obtain a license to make, use, sell or import that portion of the patented invention that is still under valid patents owned by others.