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Improving and Securing Inventions
Improving and Securing Inventions

Patent licensing

Patent licensing is not part of the patent application process itself but comes into play after a patent is granted. It involves giving permission to another party (licensee) to use the patented invention under specific terms, while the patent holder (licensor) retains ownership of the patent.

Here’s an overview of the key steps in patent licensing:

Determining the Licensing Strategy:

The patent owner decides whether to license the patent exclusively (only one licensee gets the rights) or non-exclusively (multiple licensees can use the patent). They also decide the scope—territorial, field of use, or duration of the license.

Negotiating Terms:

The licensor and licensee negotiate terms, including:

Royalty Payments:

The licensee typically pays the licensor royalties, which can be a percentage of sales or a fixed amount.

Upfront Fees:

Sometimes, a one-time fee is paid at the start of the agreement.

Milestone Payments:

Additional payments might be triggered upon meeting certain conditions (e.g., reaching sales goals).

Rights Granted:

Details on what the licensee can do with the patent (manufacture, sell, import, etc.).

Territory:

Where the licensee can use the patent (e.g., specific countries or regions).

Drafting the Agreement:

A legally binding agreement is created, documenting the terms and conditions of the licensing arrangement.

Monitoring Compliance:

After the agreement is signed, the licensor typically monitors the licensee’s activities to ensure compliance with the terms (e.g., payment of royalties, respecting the agreed-upon scope of use).

Patent licensing allows the patent owner to monetize their invention without having to manufacture or sell the product themselves, while enabling others to use or commercialize the invention.

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