International Licensing / Nature of Licensing Agreements
There are three (3) principle legal methods that can be used in order to bring about a commercial transfer and acquisition of technology, namely:
- The Sale (i.e. Assignment),
- The License Agreement and
- The Know-How Agreement
The commercial transfer of technology through a license is the giving by the owner of a patented invention to another person or legal entity of the permission to perform, in the country and for a limited period of time, one or more of the acts which are covered by the exclusive rights of the owner of the invention patented in that country. When that permission is given, a “license” has been granted.