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. It also sets out any royalty fees Licensor will pay to Licensee and the rights to sublicense the patent. It is important that this license agreement be memorialized in writing. A written Patent License Agreement will be invaluable in the event there are disagreements or misunderstandings between the parties.

This Patent License Agreement contains the following provisions:

• Parties: Sets out the identities of the Licensor and Licensee;
• Patent: A brief description of the invention and patent number;
• Intended Use: Brief description of Licensee’s intended use of the patent;
• Grant of License: Sets out the specific uses for which Licensee will grant the license and whether it is exclusive or non-exclusive;
• License Term: The specific term of the license and rights under which the Licensor can terminate the license;
• Payments: Sets out the details of royalty payments Licensee will pay to Licensor for use of the patent including the submission of written quarterly reports;
• Sublicense/Assignment: Licensee has the right to sublicense under this agreement but does not have the rights to assign its duties under this agreement without Licensor’s prior written approval;
• Signatures: Both parties must sign the agreement.

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This attorney-prepared packet contains:

1. General Instructions
2. General Information
3. Step-by-Step Instructions
4. Patent License Agreement

State Law Compliance: This form complies with the laws of all states