New Mexico License of Rights under Patent

• Category: Copyrights Patents and Trademarks - Licensing
• State: Multi-State
• Control #: US-02401BG
• Format: Word; PDF; Rich Text

Description

A license agreement is a legal contract between two parties, known as the licensor and the licensee. In a typical licensing agreement, the licensor grants the licensee the right to produce and sell goods, apply a brand name or trademark, or use patented technology owned by the licensor. In exchange, the licensee usually submits to a series of conditions regarding the use of the licensor's property and agrees to make payments known as royalties. A patent for an invention is the grant of a property right to the inventor, issued by the federal agency charged with administering patent laws, the U.S. Patent and Trademark Office. The term of a new patent is 20 years from the date on which the application for the patent was filed in the United States or, in special cases, from the date an earlier related application was filed, subject to the payment of maintenance fees. US patent grants are effective only within the US, US territories, and US possessions. The New Mexico License of Rights under Patent refers to a legal document that grants an individual or organization the authority to use, sell, or further develop a patented invention within the state of New Mexico. This license serves as an agreement between the patent holder, who is typically the inventor or assignee, and the licensee, who wishes to utilize the patented technology. Within New Mexico, there are several types of License of Rights under Patent, each tailored to specific circumstances: 1. Exclusive License: This type of license grants the licensee exclusive rights to the patented invention within the state of New Mexico. The licensee has the sole authority to develop, manufacture, market, and sell the patented technology, while the patent holder relinquishes these rights during the duration of the license. 2. Non-Exclusive License: Unlike the exclusive license, a non-exclusive license permits multiple parties to utilize the patented invention simultaneously. The license holder can grant rights to multiple licensees, allowing them to engage in commercial activities involving the patented technology within the state of New Mexico. 3. Limited License: A limited license is typically granted when the patent holder wants to restrict the use of their invention to specific areas, fields, or sectors. For instance, a limited license may grant rights to use the patented technology solely in the healthcare industry or within a particular geographical region within New Mexico. 4. Field-of-Use License: This type of license grants the licensee the right to use the patented technology in a specific field or industry. For example, a field-of-use license may allow a licensee to utilize the invention for medical purposes but prohibit its use in other sectors such as manufacturing or telecommunications. 5. Exclusive Field-of-Use License: In this scenario, the licensee is granted exclusive rights to use the patented technology in a specific field or industry within the state of New Mexico. The licensee has complete control over the invention's commercialization, development, and marketing within the designated field. The New Mexico License of Rights under Patent provides a legal framework that enables inventors, businesses, and organizations to benefit from patented technology while ensuring proper compensation and control for the patent holder. By defining the rights, limitations, and obligations of the parties involved, this license protects the interests of all stakeholders and facilitates innovation and development within the state.

The New Mexico License of Rights under Patent refers to a legal document that grants an individual or organization the authority to use, sell, or further develop a patented invention within the state of New Mexico. This license serves as an agreement between the patent holder, who is typically the inventor or assignee, and the licensee, who wishes to utilize the patented technology. Within New Mexico, there are several types of License of Rights under Patent, each tailored to specific circumstances: 1. Exclusive License: This type of license grants the licensee exclusive rights to the patented invention within the state of New Mexico. The licensee has the sole authority to develop, manufacture, market, and sell the patented technology, while the patent holder relinquishes these rights during the duration of the license. 2. Non-Exclusive License: Unlike the exclusive license, a non-exclusive license permits multiple parties to utilize the patented invention simultaneously. The license holder can grant rights to multiple licensees, allowing them to engage in commercial activities involving the patented technology within the state of New Mexico. 3. Limited License: A limited license is typically granted when the patent holder wants to restrict the use of their invention to specific areas, fields, or sectors. For instance, a limited license may grant rights to use the patented technology solely in the healthcare industry or within a particular geographical region within New Mexico. 4. Field-of-Use License: This type of license grants the licensee the right to use the patented technology in a specific field or industry. For example, a field-of-use license may allow a licensee to utilize the invention for medical purposes but prohibit its use in other sectors such as manufacturing or telecommunications. 5. Exclusive Field-of-Use License: In this scenario, the licensee is granted exclusive rights to use the patented technology in a specific field or industry within the state of New Mexico. The licensee has complete control over the invention's commercialization, development, and marketing within the designated field. The New Mexico License of Rights under Patent provides a legal framework that enables inventors, businesses, and organizations to benefit from patented technology while ensuring proper compensation and control for the patent holder. By defining the rights, limitations, and obligations of the parties involved, this license protects the interests of all stakeholders and facilitates innovation and development within the state.