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. You may also see agreement templates.
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.
Patent License Agreement Template
Non Disclosure Patent
What Is a Patent Agreement?
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.
How to Make a Patent Licensing 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:
- Choose a suitable patent licensing agreement template to follow. Following the format on the most suitable patent licensing agreement template to incorporate the interests of the parties will help you make the agreement with less difficulty. There are basic agreement templates with less difficult formats you have to browse through.
- Consider the payment terms for the patent license. An inventor would definitely want to have the most reasonable amount for his patented invention. Both you and the inventor must come to a compromise and a concession in order to benefit from the agreement.
Sale of Agreement
Points to Consider in Patent Licensing Agreements
As an inventor, you must take into consideration the following pointers when engaging in a patent licensing agreement with a business entity:
- Always keep a file on the agreement. It is essential to keep a copy of the agreement in order to have support in unexpected dire situations. As depicted on the non-disclosure agreement templates, important information of the agreement must be kept only within the parties.
- Establish long term business relationships. Get into an licensing agreement with the thought of being in this agreement for a long period of time.
- Evaluate the quality before licensing. Before you affirm the agreement, you must be able to see how your patented invention will be added to the products of the entity when they use the license.
- Enforce interests firmly to entities. Be reasonable but firm in laying out your side of the agreement. The agreement templates in PDF illustrate how both the parties of the agreement get the benefits they deserve by being firm on their interests.
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.