encyclopedia

INVENTION

Any invention or discovery that is or may be patentable or otherwise protectable under Title 35 of the U.S. Code or any novel variety of plant that is or may be protectable under the Plant Variety Protection Act (7 U.S.…

INVERTED MARKET

A futures market in which the nearer months are selling at prices higher than the more distant months; a market displaying “inverse carrying charges,” characteristic of markets with supply shortages. Hedging term.

INVITATION FOR BIDS

An advertised competitive solicitation for fixed price bids. Awards are made to the responsive, responsible bidder that submits the lowest price.