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The Intellectual Property StrategistFeaturesIntellectual PropertyPatent Licensing and Transactions

Structuring Patent Licensing Agreements

By Jose L. Linares, Mark M. Makhail, Stephanie Reed Traband and Michele McGuire Vanderstreet
June 01, 2024

"Innovation is the central issue of economic prosperity." — Michael Porter, Harvard Business School professor.

In fact, the entire body of patent law is dedicated to encouraging innovation, both domestically and abroad. More specifically, patent law's goal is incentivizing innovation by monetization. Indeed, innovation is not only limited to the invention itself but also how to maximize the monetization of the invention. Enter licensing in the context of patents.

Licensing inventions vis-a-vis the licensing of patents is not a new practice by any means. However, the explosion of innovation in industries such as technology and pharmaceuticals has placed patent licensing at the forefront of economic advancement. You cannot have a meaningful conversation about innovation without mentioning licensing.

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