FRAND (Fair, Reasonable, and Non-Discriminatory)

FRAND, which stands for Fair, Reasonable, and Non-Discriminatory, is a set of principles used in technology licensing. When a company owns a patent essential to a standard (like Wi-Fi or Bluetooth), they agree to license it to others under FRAND terms. This means they offer licenses that are fair—just and equitable; reasonable—priced affordably; and non-discriminatory—available to all licensees on the same terms. These principles aim to promote innovation and competition by ensuring widespread, fair access to essential patented technology without monopoly abuse.