License to use or assignment of a patent agreement

What can a patent owner do?

A patent owner can transfer, sell or lease the patent rights granted by giving another person a license to make or sell the invention.

Typically, a patent owner will grant these rights through a licensing agreement to a developer in exchange for royalties or mutually agreed compensation. Licensing the rights to make, use, or sell a product may be the best way for inventors to make money and profit from their inventions. Since the inventor is usually the patent holder, the inventor may keep the ownership of the invention and receive royalty payments on any future sales of the invention or product through licensing.

Should you consult an attorney?

Yes – If you have questions or concerns about licenses and assignments of patent rights, you may want to contact a patent attorney. A patent attorney who is experienced with licensing agreements will be able to help you review or draft a license or assignment agreement that best meets your needs. Further, a patent attorney can represent you in court if your rights are violated.

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