What Is a Patent Licensing and What Are Its Main Advantages
Once an inventor has patented his invention, he can earn income not only from the sale, but also from the licensing of the patent. In such a case, he does not lose his copyright, but the licensee may use the invention. Often companies do this without obtaining a license and thereby depriving the inventor of income. However, with the help of patent licensing agents, who know how to get a patent license, this problem can be easily dealt with.
What Is Patent Licensing
Patented discoveries can benefit others if they are put into production: in the form of a product, technology or other. For this to happen, there must be an agreement, which stipulates all the conditions for transferring the right to apply the invention in production. This agreement is called patent licensing.
How to License a Patent
It is quite difficult to license a patent on your own for a variety of reasons:
- companies take advantage of inventors being ignorant of their rights
- patent holders are not confident in their ability to reach a success
- they do not know the intricacies of the licensing procedure
The help of professional agents, such as the PatentCapital agency, which sells and licenses patents, greatly simplifies the entire procedure and dramatically increases the inventor’s chances of a positive result.
Advantages of Licensing a Patent
- The main advantage of licensing a patent is the ability to put your invention in the service of other people, but at the same time make a profit from sales, called royalties.
- Ability to choose between an exclusive patent license and other forms, such as partially exclusive or non-exclusive, allows the inventor to impose certain restrictions on the use of his invention. For example, this could be the time of expiration of the license, after which all exclusive property rights revert to the patent owner.
Standing up for your copyright is a difficult task if you go it alone. But with the help of professionals from PatentCapital, who have helped to monetize the inventions of almost two hundred authors, your rights will be successfully protected. The proceeds from licensing can be used for numerous purposes, including developing your further work, which will bring many more fruits that are useful to other people.