RAND (Reasonable and Non-Discriminatory)

RAND, which stands for Reasonable and Non-Discriminatory, refers to licensing terms for patented technology, especially in industries like telecommunications. It requires patent owners to offer their inventions at fair, affordable rates and to license them without unfair restrictions or favoritism. This approach promotes widespread use of innovations, encouraging competition and innovation, while ensuring patent holders receive fair compensation. Essentially, RAND balances the interests of patent owners with the broader goal of making technology accessible and encouraging industry progress.