DEFINITION

PATENT LICENSING
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PATENT
A patent is a grant issued by the
government to the owner of an invention
which gives him exclusive rights over
the invention for a limited period of time.

LICENSING
a permission granted by the patent
owner to another to use the
patented invention on agreed terms
and conditions, while the patent
owner continues to retain
ownership of the patent.
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LICENSING
Licensor
-a patent holder who license his patent
Licensee
-the person to whom the patent is
licensed
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PATENT LICENSING
When a patent is licensed to a licensee
,the licensee is given the exploitation
right
Exploitation right means the right to
create ,market and sell something
based on what the patent protects