When it comes to the creation of products particularly technological inventions, certain rights are issued and are applied, especially if the invented product is deemed useful by a governing state. An intellectual property right is granted to an inventor for a definite period in exchange of an informative disclosure of the invented product known as a patent.
A patent is one purpose of business entities entering into a business contract agreement, which is referred to as a patent agreement legally contracted by the parties similar to a partnership agreement. The following are various formats of patent agreements in the form of agreement templates provided for your perusal on this website.
Similar to the agreement formats on assignment agreement templates, a patent agreement pertains to a legal agreement of assigning exclusive rights to an inventor to make, to use, to sell, or to import the patented technological invention with the disclosure of information related to the invention.
This agreement of a property right between the government and the inventor, as shown on the sample agreement templates, is subject to payment of fees for a definite period of time to be stipulated on the agreement.
A patent licensing agreement forms different to a patent agreement since the parties involved are business entities instead of with the government. License agreement templates provide the information as listed on the guide in making a patent licensing agreement:
As an inventor, you must take into consideration the following pointers when engaging in a patent licensing agreement with a business entity:
Patent agreements, as provided on the sample patent agreement templates, entails the need of consideration and thought on the part of the inventor. Although the government grants exclusive rights to the owner of the invention, the inventor is not hindered from getting into agreements as long as there will be no infringement on the patent which an inventor should be cautious of when it comes to patent licensing agreements.