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Licensing gives someone other than the inventor permission to do, for example, one or more of making, using and selling the patented invention while the inventor maintains ownership of the patent. In most cases, the owner of the invention will charge a fee and/or royalty for granting someone a license.
Licensing Process STEP 1 ? Identify Technologies. ... STEP 2 ? Contact a Licensing & Patenting Manager. ... STEP 3 ? Complete and Submit a License Application. ... STEP 4 ? Review Model Agreement and Negotiate Terms. ... STEP 5 ? Receive the Completed License Agreement.
A patent can be licensed or assigned only by the owner of the patent. In case of co-owners or joint- owners, a co-owner can assign or license the patent only upon consent of the other owner(s).
Steps to File a Patent License Locate Manufacturers. Identify potential licensees. Sign a Confidentiality Agreement. Ask potential licensees to sign a confidentiality agreement to protect rights to your intellectual property. Negotiate Patent License. ... Complete a Patent License Agreement.
But generally, to obtain a patent an inventor needs to demonstrate that their technology is new (novel), useful and not obvious to someone working in the related field. To do this, they are required to describe how their technology works and what it can do.
A technology patent requires explicit documentation of the methods and research that goes in to developing the outcome you are seeking to patent. As you develop your invention, you should keep careful notes and evidence of your methods and processes for creating the final outcome.
The owner retains title to the patent, but the license grants the licensee the sole right to practice the invention. In this case, the owner is also restricted from practicing the invention. A non-exclusive license allows the licensee to practice the invention, but in a non-exclusive manner.
Patents, trademarks, and copyrights are all forms of intellectual property that can be licensed. For example, patent licenses can be used for mechanical devices and systems, healthcare products and services, electronic hardware, computer software, chemical compositions, and business methods.