This agreement is used by the Licensor to grant to the Licensee, a non-exclusive, non-transferable, non-divisible right and license under the Licensed Patents, Licensed Products and Licensed Services, without the right to sublicense to others, to make, use, sell, offer to sell, or import the Licensed Products and Licensed Services in the Licensed Territory.
Illinois Patent License Agreement Nonexclusive
State:
Multi-State
Control #:
US-CP5B12
Format:
Word;
PDF;
Rich Text
Instant download
Description
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FAQ
An exclusive license agreement grants one licensee the sole right to use, make, and sell a patented invention, excluding all others, even the patent owner. This contrasts with an Illinois Patent License Agreement Nonexclusive, where multiple parties can hold licenses to the same patent. Exclusive agreements can provide a competitive advantage and increase market control. If you're considering an exclusive arrangement, USLegalForms offers resources to help you navigate the complexities of patent licensing.
By nature, exclusive licenses grant more rights than non-exclusive licenses and usually address a number of contractual obligations regarding the IP, including registration/prosecution, defense, and enforcement of the intellectual property rights.
Non-Exclusive Licence. A non-exclusive licence allows the licensor to retain the right to use the licensed property and the right to grant additional licenses to third parties. Therefore, the licensee must expect to compete with the licensor, as well as with other licensees, in the utilization of the licensed property.
A licensing agreement allows one party (the licensee) to use and/or earn revenue from the property of the owner (the licensor). Licensing agreements generate revenues, called royalties, earned by a company for allowing its copyrighted or patented material to be used by another company.
Exclusive license allows a licensor to share intellectual property with a licensee for a specific period of time that usually binds the licensor to not share the property with anyone else.
A copyright exclusive license is one in which ownership in one or more rights is transferred by the copyright owner. A copyright nonexclusive license occurs when the owner retains ownership of the copyright and/or may license the same right to others.
Exclusive License Thus licensee acquires all the responsibilities related to the invention. However, licensee cannot license the patent to anyone else. It is exclusively granted to him/her. Thus licensee is only the authorized person to use the patented invention.
Practitioners and licensing executives often refer to three basic types of voluntary licenses: non-exclusive, sole, and exclusive. A non-exclusive licence allows the licensor to retain the right to use the licensed property and the right to grant additional licenses to third parties.
A copyright exclusive license is one in which ownership in one or more rights is transferred by the copyright owner. A copyright nonexclusive license occurs when the owner retains ownership of the copyright and/or may license the same right to others.
