Can you sell a patent to multiple companies?

You can grant an exclusive license to one company or several companies. Your invention stands a better chance of generating big bucks if licensed through a well-known company that already has the consumers’ confidence. In addition, the licensee assumes liability for any product mishaps.

Can you share ownership of a patent?

Patent law gives co-owners of a patent the right to make, use, license, sell and import the patented invention within the United States in whatever way they please, without the consent of the other co-owners. Joint ownership of a patent occurs simply by applying for a patent with other people.

Can two companies share a patent?

Whether a product or process is created by one or more individuals or companies, it should be protected by a patent. When multiple parties are involved in the development or creation of a patented work, they can share ownership with a co-owned patent.

Who owns the intellectual property of a patent?

The owner has the exclusive right to use, sell or license the invention. Patents also allow the owner to stop others from manufacturing, using, copying and/or selling the device or process.

Can a patent be sold?

A patent is an exclusive right granted for an invention. The patent owner may give permission to, or license, other parties to use the invention on mutually agreed terms. The owner may also sell the right to the invention to someone else, who will then become the new owner of the patent.

How much will companies pay for a patent?

If the corporation makes an offer, it will typically be anywhere from $50 thousand to $8 million, and can be higher. On the other hand, an inventor trying to simply market an issued patent to corporations, is likely to get anywhere from $5,000 to $35,000.

How are rights divided between co owners of a patent?

Each joint owner is entitled to an equal and undivided share in the patent, unless there is an agreement to the contrary. Each joint owner is entitled to equal patent rights for his own benefit without accounting to the other person or persons.

What is the shop right rule?

The shop right is a common law doctrine founded in equitable principles that allows an employer to use the employee’s invention without payment to the employee if that invention was made using the employer’s time, materials, facilities, or equipment.