If a patent gives its holder an exclusive right over the products or procedures it protects and if a standard is a document that sets out requirements for everybody to follow in order to properly obtain a certain result, a standard essential patent may only be a peculiar and complex concept. Thus, a standard essential patent (SEP) is a patent that protects a product or more often a procedure that is essential to a standard, in the way that it is impossible to manufacture standard-compliat products such as smartphones, tablets and other gadgets without using technology covered by SEPs. To alleviate any competition concerns and to ensure that the benefits of standardization are promulgated, SEP holders are required to commit to licensing their SEPs on FRAND (fair, reasonable, non-discriminatory) terms, a condition that aims to ensure that the technology incorporated in a standard is accessible to the standard users and that the SEP holders are financially rewarded. [ABSTRACT FROM AUTHOR]