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Exclusive use of patent and royality

axy3d's Avatar

Hi there, I am new here, as an individual inventor, I would like to ask EN about:

1- If I submitted a patented idea and the EN found a licensee, do they sign an exclusive use of the patent? if so, is this a territories (in the US only) or global? If in the US, could I then license it myself to other companies in other countries? 

2- The same points apply to royalty with one more question, does EN file a patent for my non-patented idea and will it be under my name? 

I have found some topics talking about some of above points but couldn't find them in the forum. 

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magurn's Avataren_staff_badge

Hi Aljazaari and welcome to Edison Nation!

I've provided answers to your questions below in bold:

1- If I submitted a patented idea and the EN found a licensee, do they sign an exclusive use of the patent? if so, is this a territories (in the US only) or global? If in the US, could I then license it myself to other companies in other countries?

Traditionally, our licensing partners want exclusive deals for the patents they license. That being said, it depends on the product. For technologies that are incorporated into another product (Pressix for example), the EN team will look to secure a non-exclusive license to maximize the return on the IP.

Usually our deals are worldwide, but it depends on the licensing partner. 

If a deal is done, usually there would be no additional sales permitted beyond those by the licensing partner.

2- The same points apply to royalty with one more question, does EN file a patent for my non-patented idea and will it be under my name? 

If your product is licensed to a third party, per the terms of our innovator agreement, the rights to the IP are assigned to Edison Nation and we will file on your behalf. You will remain on the patent as the inventor.

Karen C Adams
Rex Martin
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axy3d's Avatar

Thanks Michelle

Michelle Sartori
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