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

FRAND stands for Fair, Reasonable, and Non-Discriminatory licensing, a principle often used in patent licensing, especially for essential technologies. It ensures that companies holding patents for key innovations (like standards in telecommunications) must offer licenses to others on fair terms. This means the licensing fees should be reasonable and the terms should apply equally to all interested parties. The goal of FRAND is to promote competition, innovation, and access to technologies, preventing patent holders from imposing unfair conditions or fees on others wanting to use their inventions.