Common Contracts
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Drafting Valid Patent LicensesSeptember 14th, 2021
The clauses in a license agreement vary based on the nature of the patented invention. Each technology has certain unique characteristics and applications, which influence license drafting. Some of the basic clauses that go into every license agreement are as follows:This post is in furtherance of the post “Sensing Licensing Opportunities”. A license is an authorization given by the patent holder to exercise the exclusive rights granted by the patent. It permits the person acquiring the license to practise the patented invention in the manner allowed under the license. Therefore, a license agreement must clearly specify the terms and conditions for exercising rights with respect to the patented invention. In order to be valid, a patent license agreement must be signed and executed by both the parties. It must also be registered with the patent office within six (6) months from the date of execution
