Patent license agreement is made between a company/individual and patent authority of the country. The agreement is aimed to confirm the patent application of applicant for business/commercial purpose. The agreement sets forth those rules and regulation that need to be followed while using the patent.
Sample Patent License Agreement
This agreement is signed between License Applicant and the Patent Authority of United States on 15th July. The agreement will come in to effect on 1st August 2011.
The duration for the patent license agreement will be 10 years and it is given for the Antibiotic drug invented by the applicant.
The patent right is exclusively given to the applicant’s company and it is eligible to manufacture, sale, promote this drug with his company brand name and logo. No other individual or business entity can use this drug name, formula and symbol.
Details of License Applicant
Name: Healthy Life Pvt.Ltd.
CEO: Mr. Henry Harmon
Contact Number: 463028971
Details of Patent Authority
Title: Patent Authority of United States
Director: Mr. Charles Greenworth
Contact Number: 48630297125
Terms and Conditions of agreement
The licensee is granted patent for an antibiotic tablet drug but the patent name, logo and other identifications cannot be used for any other type of drug or medicine.
The licensee have to pay fee of $ 1500 per year to the authority as patent fee and also need to deposit increased fee each time when and how the department will decide.
Violation of patent rights will be charged as criminal case.