Patent Licensing – 5 things you need to know
March 08, 2018
1. A patent licence is just one of the benefits of making the investment into obtaining a patent. It can be a very lucrative method of generating an income through receiving royalties or a license fee.
2. Companies will often invest in obtaining patent protection just for the opportunity to license their invention. Often, they will obtain patents in sectors and technology areas that they know multinationals operate in and will therefore look to enter into licensing agreements with them.
3. A patent license agreement can be as simple or as complex as required. Every aspect of the agreement such as length of license, what the patent will be used for and amount of income to be paid can be defined and agreed on by all parties.
4. A patent license is a bargain and like any bargain it has to have value for both sides.
5. Always speak to a good intellectual property firm before considering licensing your patent as they can help, guide and advise you on how to best maximise the commercial opportunities and to mitigate the potential risks involved with patent licensing.
Swindell & Pearson is a UK based firm of patent and trade mark attorneys that has been helping businesses and individuals protect and defend their ideas, innovations and brands for over 135 years. Based in the East Midlands, the firm has offices in Derby, Stoke, Wolverhampton and Stafford as well as in Sheffield. To find out how Swindell & Pearson can help you and your business with any intellectual property requirements including licensing, please get in touch [email protected] or by telephone on 01332 367 051.