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Patent monetization refers to the generation of revenue or the attempt to generate revenue by a person or company by selling or licensing the patents it owns. Some of these owners try to make money from patents on inventions they develop, manufacture or market.
A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.
Shop right, in United States patent law, is an implied license under which a firm may use a patented invention, invented by an employee who was working within the scope of their employment, using the firms' equipment, or inventing at the firms' expense.
The publication of the invention is mandatory to get a patent. Keeping the same invention as a trade secret rather than disclosing it in a patent publication, for some inventions, could prove valuable well beyond the limited time of any patent term but at the risk of unpermitted disclosure or congenial invention by a third party.
Royalty payments take three basic forms: 'running' royalties 'lumpsum' royalty; running royalties together with lump-sum royalties; Any payment should be related to: the specific entity of the license that bears the royalty; the unit-base on which the royalty is applicable (e.g. per kilogram of product) the period over which payments are due
Although PTI promised clients it would help them earn substantial royalties, no inventions were licensed and no royalties were paid. "By changing the name of their company, these individuals ...
The term "cross licensing" implies that neither party pays monetary royalties to the other party, although this may be the case. For example, Microsoft and JVC entered into a cross license agreement in January 2008. [3] Each party, therefore, is able to practice the inventions covered by the patents included in the agreement. [4]
Patent – set of exclusive rights granted by a sovereign state to an inventor or assignee for a limited period of time in exchange for detailed public disclosure of an invention. An invention is a solution to a specific technological problem and is a product or a process. Patents are a form of intellectual property.