Patent License Agreements
Jul 24th, 2008 |
A patent license agreement has become a valuable and trusted technique for companies to share knowledge in a protected way. No company wants to invest time and money in an invention, only to give it away without the prospect of compensation. Thus, the patent license agreement was created. It is an agreement in which a licensor grants to a licensee for consideration the revocable right to perform an act that would otherwise be illegal without the licensor’s permission. Here, in contrast to other types of license, the act is to use the licensor’s invention, which is patented for the protection of the licensor. The grant of permission, which may be exclusive or non-exclusive, is embodied in a document called the license.
Read full post...