Fair, Reasonable, and Non-Discriminatory (FRAND) terms

Fair, Reasonable, and Non-Discriminatory (FRAND) terms refer to licensing agreements for patents, particularly in technology and telecommunications. When a company holds a standard-essential patent (a patent crucial for a technology standard), it should allow others to use the patent under fair and reasonable conditions without discrimination. This ensures that all companies, regardless of size, have access to essential technology, promoting innovation and competition while preventing monopolistic behavior. In essence, FRAND aims to balance the rights of patent holders with the needs of those who wish to use that technology.