Part 8. Acquisition of Patent Portfolios – Pledging and Licensing.
A patent may be used as collateral for a loan, like a house for a mortgage. So most Pledges are concluded with banks.
Patents can also be licensed: the patent holder agrees to a third party to use the patent. The patent owner remains the registered applicant but e.g. does not need to invest into marketing the innovation and receives royalty payments from the Licensee. Before pledging or licensing, do specifically agree on the duration of the applicable period and who is responsible for monitoring and payment of the annuities during said period. It occurs that this is not decided on so one party thinks the other is in charge and a Pledge or License becomes invalid as the patent lapses.
It is also important to register a Pledge or License in all applicable countries, as another party becomes involved and the register must show this. Finally registrations of a pledge or license should be withdrawn as soon as they expire.
Should you require assistance, please contact me at Patricia.firstname.lastname@example.org.
Manager IP Portfolio AIPEX