Ravi Kiran, Meenakshi Chauhan & Kapil Arya, Council of Scientific and Industrial Research-Innovation Protection Unit (CSIR-IPU), Satsang Vihar Marg Block A, Qutab Institutional Area, New Delhi- 110016
ABSTRACT
The Patent monetization involves strategies like licensing, selling, or leveraging patents to transform idle intellectual property into valuable economic assets. The present article describes the types of licensing and its importance, especially when patents fail to generate scalable products or are not actively used. This also explores the technicalities of patent licensing from the perspectives of patentees, licensees, and governments. It provides insights to the global provisions embedded in trade agreements of intellectual property rights, historical background, and specific case laws pertinent to patent licensing, with a particular emphasis on provision related to licensing and pooling agreement. This helps to understand that the role of patents in the knowledge economy is to provide exclusive rights granted to inventors which enables the commercialization through licensing or direct exploitation. This study addresses various monetization strategies including patent enforcement, licensing, manufacturing, patent pooling, mortgage, and selling. It details the nuances of each approach, particularly focusing on compulsory licensing as a mechanism to ensure public access to patented innovations that are not commercially viable.
Keywords: Patent Monetization, Dormant Patents, Patent Licensing, Doha Declaration, Patent Pooling, Knowledge Economy, etc.
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