Patent License
/ˈpætənt ˈlaɪsəns/
Definitions
- (n.) A legal agreement granting permission to use, manufacture, or sell an invention protected by a patent under specified conditions.
The company secured a patent license to produce the new technology legally.
- (n.) A contract specifying the scope, duration, and royalties for the authorized use of patented intellectual property.
The patent license outlined the terms for royalty payments and exclusivity.
Forms
- patent license
- patent licenses
Related terms
See also
Commentary
Patent licenses often require precise drafting to clearly delineate rights and obligations, including territorial scope, duration, and financial terms.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.