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.
Puerto Rico Patent License Agreement Nonexclusive
State:
Multi-State
Control #:
US-CP5B12
Format:
Word;
PDF;
Rich Text
Instant download
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How to fill out Patent License Agreement Nonexclusive?
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FAQ
A patent license is a legal permission granted by the patent holder to another party, allowing them to use, produce, and sell the patented invention. This agreement can be exclusive or non-exclusive, depending on the needs of the parties involved. Choosing a Puerto Rico Patent License Agreement Nonexclusive could enhance opportunities for collaboration and innovation within your industry.
In an exclusive license, only the licensee has the right to make use of the intellectual property. By contrast, in a sole license, the licensor agrees not to grant any additional licenses but retains the right to make use of the intellectual property.
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.
Sole, on the one hand, means only one person has the legal right to use the product. Exclusive, however, actually means only one other person has that right. The phrase sole and exclusive license certainly occurs in granting language.
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.
Transferring Different Types of Intellectual PropertyPatents and industrial designs can be assigned, licensed or inherited in whole or in part. Patents that are co-owned cannot be divided into more parts without the consent of other co-owners transfers may be made to a single other entity without such consent.
Patent Assignment: Difference between Assignment of Patent and License. A patent is considered as the transferrable property that can be transferred from the original patentee to any other person by assignment of patent or operation of law. A patent can be licensed or can be assigned only by the owner of the patent.
The main difference between the two is that in a license the person granting permission (Licensor) retains an interest in the property being licensed, whereas in an assignment the assignor transfers his rights in the property being assigned.
An Exclusive Licence means that no person or company other than the named licensee can exploit the relevant intellectual property rights. Importantly, the licensor is also excluded from exploiting the intellectual property rights.
