Patent Licensing | Stick or Carrot Licensing - Sig

A patent license is the right through which the patent proprietor may grant permission to sell, use, manufacture, etc. His/her patented invention to a different individual/business. This is done under agreed terms, for a defined intent, within a defined area and for an agreed period of time. As patent holder, one can retain possession of the invention and get royalties on potential sales of the invention/product.