Claim Priority

Claim priority refers to the order in which competing claims are acknowledged or enforced, particularly in legal and financial contexts. For example, if multiple parties have a claim to the same asset or patent, claim priority determines which party's claim is recognized first. This is often based on the timing of when a claim was made or registered. Understanding claim priority is crucial in resolving disputes and ensuring fairness, as it helps clarify who has the right to ownership or control over a particular resource or invention.