What are patent licensing agreements?

What are patent licensing agreements?

Patent licensing agreements are contracts that allow one party to use, make, or sell a patented invention owned by another party.

What are the benefits of entering into a patent licensing agreement?

Benefits include generating revenue, expanding market reach, and leveraging another party's expertise without the need for full ownership.

How do I draft a patent licensing agreement?

To draft a patent licensing agreement, include key elements like the scope of the license, payment terms, duration, and any restrictions.

What are common pitfalls to avoid in these agreements?

Common pitfalls include vague terms, inadequate protection of intellectual property, and failing to address dispute resolution.