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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.
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.
Reasonable and non-discriminatory (RAND) terms, also known as fair, reasonable, and non-discriminatory (FRAND) terms, denote a voluntary licensing commitment that standards organizations often request from the owner of an intellectual property right (usually a patent) that is, or may become, essential to practice a technical standard. [1]
An intellectual property broker mediates between the buyer and seller of intellectual property (IP) and may manage the many steps in the process of creating a deal with regard to the purchase, sale, license, or marketing of intellectual property assets. This may include: patents, trademarks, or inventions (prototypes).
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.
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]
Assign rights to a subject invention only to an organization having as a primary function the management of inventions, unless approved by the Federal agency; Share royalties with the inventor; Use the balance of royalties after expenses for scientific research or education; Make efforts to attract, and give preference to, small business licensees.
Patentleft is the practice of licensing patents (especially biological patents) for royalty-free use, on the condition that adopters license related improvements they develop under the same terms. Copyleft-style licensors seek "continuous growth of a universally accessible technology commons" from which they, and others, will benefit.