Does License of Patent Application Imply License of Patent?
Just like the owner of a patent, a patent applicant can also transfer rights to an invention through a license. A license of a pending patent application gives the licensee rights to use the invention without liability for patent infringement if the inventor later receives a patent. However, a license of a pending patent application does not imply a license of a patent because the invention has not yet received a patent.
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Patent
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The U.S. Patent and Trademark Office (USPTO) is the agency authorized to grant patents. The three types of patents are utility, design and plant patents. A patent owner has the right to forbid others from making, using or selling the invention.
Application
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A person must apply for a patent by submitting an application with the USPTO. While the patent application is under review, the applicant may use the term "patent pending." This notifies others that an application has been filed with USPTO and discourages others from using or making the invention without the permission of the applicant.
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License
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Applicants can generate revenue by licensing a patent pending invention. A license gives the licensee the right to use, make or sell the invention. Because the patent is pending, the applicant may offer a benefit, such as a long-term royalty agreement at a reduced price or some kind of exclusivity.
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