Final answer:
Laches is a legal doctrine that prevents lawsuits from being filed after an unreasonable delay in asserting rights, causing prejudice to the defendant.
Step-by-step explanation:
The time frame within which a lawsuit can be filed after a certain event is known as the statute of limitations. In the context of laches, which is a legal doctrine, it refers to the delay or lapse of time that can prevent a lawsuit from being filed even if the claim is valid. Laches comes into play when the plaintiff unreasonably delays in asserting their rights, causing prejudice to the defendant. It is an equitable defense that can be used to bar a claim if there has been an unreasonable delay in filing the lawsuit, which may result in the loss of evidence or a significant change in circumstances.