US Legal Forms
Simple Patent License

Simple Patent License

Name: Simple Patent License
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.76 (403 reviews)

Category:

Copyrights Patents and Trademarks - Licensing

State:

Multi-State

Control #:

US-L0609AM

Format:

Instant download

Description

This sample form, a detailed Simple Patent License document, is adaptable for use with entertainment, new products, intellectual property/multimedia business and other related areas. Tailor to fit your circumstances. Available in Word format.

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FAQ

What is Patent Licensing? When a patent is licensed, an agreement is made between the patent owner (or the licensor) and the person or company that wants to use and benefit from the patent (the licensee). It permits the licensee to make or sell the product, design, or technology in the patent.

There are three basic criteria for patentabilitynovelty, utility and inventiveness: NoveltyTo be granted a patent, the invention (door lock) must be the first of its kind in the world. UtilityA valid patent cannot be obtained for something that does not work or that has no useful function.

Patent rights are usually enforced in a court on the initiative of the right owner.Licensing a patent simply means that the patent owner grants permission to another individual/organization to make, use, sell etc. his/her patented invention.

The patent holder also has the right to license others to use his invention, typically for payment of a royalty fee. A patent license is a private agreement between the inventor and a licensee, and does not involve the USPTO.

If the company is selling in 10,000 stores, the wholesale price of your product is 10 dollars, and your royalty is 5 percent, you would earn 50 cents for every unit sold, resulting in $5,000 a week. That's $260,000 a year selling half a million units.

The average royalty on a typical invention are 3-6% of the wholesale price of the product sold.

It's creativity and productivity on your own terms! Having this type of freedom and flexibility in your life is worth more than money to many of you. And you may not become a millionaire, but you can easily earn $50,000, $100,000, or even $200,000 per year from licensing your ideas when you play it smart.

If the corporation makes an offer, it will typically be anywhere from $50 thousand to $8 million, and can be higher. On the other hand, an inventor trying to simply market an issued patent to corporations, is likely to get anywhere from $5,000 to $35,000.

Having a patent will not in and of itself make you rich.Many inventors often think that all they need to do is come up with an idea, file a patent application, and companies will be banging on their door offering millions of dollars for the idea. Unfortunately, it doesn't work this way.

Simple Patent License

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