What is patent licensing and how does it work?

What is patent licensing and how does it work?

Patent licensing is an agreement where the patent owner allows another party to use, make, or sell their invention.

What are the benefits of patent licensing for inventors?

Benefits include generating revenue, expanding market reach, and leveraging the licensee's resources for production.

Are there different types of patent licenses?

Yes, there are exclusive, non-exclusive, and sole licenses, each with different rights and restrictions.

How do I negotiate a patent licensing agreement?

Negotiation involves discussing terms like royalties, duration, and territory, often requiring legal expertise.

What happens if a licensee violates the agreement?

If violated, the patent owner can seek legal remedies, including termination of the license and damages.