Entering into a licensing agreement can help to build a mutually-beneficial business relationship.
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Another possible situation is one in which the patent owner wishes to concentrate on one geographic market therefore the patent owner may choose to grant a license to another individual/organization, with interests in other geographical markets. In this case, he/she may be interested in licensing the patent to another manufacturer in order to benefit from another income stream. Alternatively, a patent owner may have manufacturing facilities, but they may not be large enough to cover market demand. The patent owner may not have the necessary manufacturing facilities, for example, and therefore opts to allow others to make and sell his/her patented invention in return for “royalty” payments. This takes place according to agreed terms and conditions (for example, defining the amount and type of payment to be made by the licensee to the licensor), for a defined purpose, in a defined territory, and for an agreed period of time.Ī patent owner may grant a license to a third party for many reasons. Licensing a patent simply means that the patent owner grants permission to another individual/organization to make, use, sell etc.