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Licenses – Introduction

One of the most common ways an inventor can take advantage of their patent is through licensing. A license gives another rights to make, use or sell an invention. However, the patent holder retains ownership of the patent. A license is a bit like a renting a piece of real property. The owner still owns it, but lets another use it, usually for a profit. When it’s a real property license, the payment is called “rent”. If it’s a patent that’s being licensed, the property is called a “royalty”.

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Do you need international patent protection?

So you’ve gotten your patent application on file, the rush and the fuss are over with for the time being, you’ve hit your deadline before the presentation or the trade show. Fortunately the patent decisions have been made now and you can forget about this part of your project at least for awhile. And maybe you take a deep breath, because the financial hemorrhage from the patent work is at least on hold.

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Patent Trolls

“Patent trolls” are people or companies who obtain unused patents and sue companies for the only sue patent holders that do not make products but only threaten other companies with patent infringement lawsuits in order to extract money. They are criticized, probably justly, for gaming the system, collecting money without adding value.

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