Lapse
The date when a patent is no longer valid in a country
or system due to failure to pay renewal (maintenance) fees. Often the patent
can be reinstated within a limited period.
Licence
The means by which the owner of a patent gives
permission to another person to carry out an action which, without such
permission, would infringe on the patent. A licence can thus allow another
person to legitimately manu facture, use or sell an invention protected by a
patent. In return, the patent owner will usually receive royalty payments. A
license, which can be exclusive or non-exclusive, does not transfer the
ownership of the invention to the licensee. In certain countries, patent law
contains rules on compulsory licenses. The law empowers the courts to decide if
a compulsory license should be issued and what should be the terms and
conditions.
Licence of right
In some countries it is possible for anyone to get
access to the use of patents under licence of right in return for payment of a
licence fee. For example, in the United Kingdom, licence of right has been in
existence for a number of years. Patent owners are able to get a discount on
the renewal fee by offering licence of right for their patents.
..
Posted in: Glossary
