Patent License Agreement

A patent owner will often grant a license to another for use of the patent. A patent license is not an assignment and ownership of the patent does not change. This Patent License Agreement is between the owner of the patent (the “Licensor”) and the party to whom a license is granted (the “Licensee”). This agreement sets out the specific terms of the license including the intended use of the patent, whether the license is exclusive or nonexclusive and term of the license agreement. (continued ...)