A patent for an invention is the grant of a property right to the inventor, issued by the federal agency charged with administering patent laws, the U.S. Patent and Trademark Office. The term of a new patent is 20 years from the date on which the application for the patent was filed in the United States or, in special cases, from the date an earlier related application was filed, subject to the payment of maintenance fees. US patent grants are effective only within the US, US territories, and US possessions.
The South Carolina License of Rights under Patent is a legal agreement that grants a person or entity the authority to use and exploit the rights of a patented invention or innovation within the state of South Carolina. This license is given by the patent holder, also known as the licensor, who holds the exclusive rights to their intellectual property. Keywords: South Carolina, License of Rights, patent, legal agreement, patented invention, innovation, patent holder, licensor, intellectual property. There are different types of South Carolina License of Rights under Patent, including: 1. Exclusive License: This type of license grants the licensee the sole right to use and exploit the patented invention or innovation within South Carolina. The patent holder cannot grant any additional licenses to other parties while the exclusive license is in effect. 2. Non-Exclusive License: In contrast to an exclusive license, a non-exclusive license allows multiple licensees to use and exploit the patented invention or innovation simultaneously within South Carolina. The patent holder can grant this type of license to more than one party. 3. Limited License: A limited license restricts the rights granted to the licensee under specific conditions or limitations. These limitations can include usage restrictions, territorial restrictions, or limitations on the scope of use. The licensee must comply with these terms while using the patented invention. 4. Compulsory License: A compulsory license is granted by the government or a competent authority in special circumstances. It allows a third party to use the patented invention without the consent of the patent holder. Compulsory licenses are generally issued in cases of national emergencies, public interest, or failure to commercially exploit the patented invention. 5. Cross-License: A cross-license is an agreement between two or more patent holders to grant each other licenses for their respective patented inventions. This type of license encourages collaboration and mutual benefits between the parties involved. It is important to note that the terms and conditions of a South Carolina License of Rights under Patent can vary depending on the agreement reached between the licensor and the licensee. It is advisable to consult with a legal professional to understand the specific terms and scope of the license.
