Overview

A patent is an exclusive right given to the owner to commercially exploit their invention for the life of the patent.

Whilst still retaining ownership, the owner can enter into a Patent Licence Agreement to licence their registered patent to a third party in a territory for a specific term. This licence agreement is suitable for use by a patentee or by an applicant for a grant of patent to license exploitation of the patent. The template contemplates the licence of a single patent. A search of the Register should be conducted to ensure the correct name is entered as the Licensor.

If you are a patent owner, a Patent Licence Agreement will allow you to:

• allow a another party to manufacture and/or market the technology that is the subject of the patent;
  
• grant rights to use and develop the inventions disclosed in the patents to a third party in a specified territory;
  
• secure payment for royalties;
  
• protect your goodwill in the use of the patent.

Having a clearly documented patent licence agreement provides your business with certainty, avoids later legal complications and maximises commercial return.

This Patent Licence Agreement includes the following provisions:

1. Licence
2. Term of Licence
3. Royalty, Accounting & Payments
4. Minimum Quantity Requirement
5. Intellectual Property
6. Confidential Information
7. Access to Patent Technology
8. Manufacturing and Labelling Compliance
9. Licensor Representations, Warranties & Undertakings
10. Patent Infringement
11. Limitation of Liability
12. Indemnity
13. Termination
14. Notices
15. Dispute Resolution
16. General Provisions
17. Additional Provisions
18. Interpretation
* Schedule
* Notes to Patent Licence Agreement