What is a Patent License?
A Patent is a type of intellectual property that gives its owner the legal right to exclude others from making, using, or selling an invention for a limited period of years, in exchange for publishing an enabling public disclosure of the invention.
In most countries, patent rights fall under private law and the patent holder must sue someone infringing the patent in order to enforce his or her rights. In some industries patents are an essential form of competitive advantage; in others they are irrelevant.
The procedure for granting patents, requirements placed on the patentee, and the extent of the exclusive rights vary widely between countries according to national laws and international agreements. Typically, however, a patent application must include one or more claims that define the scope of protection that is being sought.
Check out the Patent License Video
What are the Benefits of a Patent License?
Revenue Generation
A patent license provides an opportunity to generate revenue from their patented invention. By granting licenses to other parties, they can receive licensing fees, royalties, or other financial compensation.
Market Expansion
A patent license allows access to a patented technology that they may not have developed themselves. This enables them to enter new markets, expand their product offerings, and gain a competitive advantage.
Risk Mitigation
Acquiring a patent license reduces the risk of infringing on someone else's patent rights. It provides legal protection and assurance that the licensee has the right to use the patented technology without facing potential litigation or infringement claims from the licensor or other patent holders.
Market Standards and Compatibility
Patent licenses can facilitate the adoption of industry standards by allowing licensees to incorporate patented technologies into their products or services. This promotes compatibility and interoperability among different products in the market, benefiting consumers and driving market growth.
Technology Advancement
Patent licenses promote knowledge sharing and collaboration. Licensees can gain insights into the patented technology, learn from the licensor's expertise, and potentially improve upon the invention. This fosters innovation and encourages the development of new and improved products or processes.
Protection against Counterclaims
A patent license agreement may include provisions that protect the licensee from counterclaims of patent infringement by the licensor. This can provide additional legal security and mitigate the risk of potential disputes.
Why Patent License is Required?
A patent is crucial because it serves as a safeguard for your invention. It provides legal protection and exclusive rights over your product, design, or process, given that it meets specific criteria such as originality, practicality, suitability, and utility.
Who can get Patent License?
Pharmaceutical Products
Software
Research & Development
Document Required for Patent License
Role of Shamkris and Process of Import-Export Code (IEC) License
Shamkris adopts a results-oriented approach to compliance with mandatory licence requirements in the organization. A simple and guidance methodology help organisation to achieve licence in a timely manner and cost-effective. Shamkris support 100% in advisory, Guidance, Compliance with respect to license requirements to obtain approval.
The License process described below:
- Advisory for the document required
- Preparation of documents as per application & list of documents.
- Application File
- Inspection by the department if required
- Liason department
- Yearly Compliance if Applicable
- Renewal when due
