PRESS RELEASE: Fair patent licensing is key to harnessing potential of the Industrial Internet
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FRAND is a legal term that stands for "Fair, Reasonable, and Non-Discriminatory" and is typically used to describe patent licensing terms.
FRAND is about ensuring that patent holders are appropriately compensated for their contribution to standards-related innovation while providing Fair, Reasonable and Non-Discriminatory licensing terms to those that use the patented invention to provide innovative products and services to consumers. Voluntary commitments to provide FRAND licenses are an important element of enabling standards to contribute to a competitive and dynamic marketplace.
Where abuses of FRAND commitments occur, or where the possibility for them to occur is tolerated, the ability of standards to contribute to innovation and economic growth at large is at risk.