We have set out below the different types of IP and the relevant legal provisions that state whether a Patent license agreement is required to be in writing or not:As has been mentioned above, a license agreement should be in writing with the relevant terms clearly defined. Take a world-renowned brand like Apple, for instance. BUDAPEST TREATY ON THE INTERNATIONAL RECOGNITION OF THE DEPOSIT OF MICROORGANISMS FOR THE PURPOSES OF PATENT PROCEDURE. Arbitration that was once supposed to be the panacea for the woes of litigation, has now become complex and expensive due to several factors, such as ‘multiplicity’ of tribunals, awards, references and challenges arising among the same parties, contracts or series of contracts. The Patents Act, the Trademarks Act and the Designs Act mandate the registration of license agreement while Copyright Act does not mandate such registration.While royalty determination may to a large extent depend on the commercial understanding between the parties, in the event the licensor attempts to set exorbitant rates by virtue of its dominant positions in the market, it could fall foul of The Competition Act, 2002(“Obhan & Associates is a reputed, skilled and professionally managed law firm that was established in 2007. Besides the patentability requirements of novelty, inventive step, and being capable of industrial applicability, a patent application must also meet the enablement requirement in order to be granted.
Most importantly, the clause on royalty payment should be drafted in a manner that does not give rise to implications that any downright payment is towards assignment of the IP.A person may create and design an improvement of an existing technology or a feature that enhances the use or functionality of the technology. %PDF-1.6 %���� What are intellectual property rights? What is equally important is enforcement of the provisions of a license agreement pertaining to quality control – in a case where the licensor did not enforce of its rights under the definitive agreements, the Bombay High Court concluded that Once a license agreement is proposed to be executed, the question that then arises is whether the licence agreement needs to be mandatorily registered. Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce. Patent disputes that involve complex technologies cannot usually be resolved by judges alone. The Firm has been recognized for its expertise in Intellectual Property, Corporate Law and Litigation.Sign up to get notified about latest articles and delivered to your inbox. Intellectual property rights are like any other property right. While analysing the difference between assignment and licensing of Copyright, the Court in Therefore, the terms of the license must explicitly state it is a license (whether exclusive or non-exclusive) and define the mutual obligations. IP is protected in law by, for example, patents , copyright and trademarks , which enable people to earn recognition or financial benefit from what they invent or create. with respect to IAs. While there is certainly a tingling excitement that the purchase of shiny new gadgets brings, there is a more subtle factor at play: the store layout. Six of the fifteen cases are patent related cases. A patent application is said to be enabled if the application provides sufficient details that enable a person of ordinary skill in the related field to practice the invention.
In the patent granting procedure, only the Patent Law, the Implementing Regulations of the Patent Law and the Guidelines for Patent Examination shall have legal effect in principle. For patent licensing in India, it is necessary for the license to be reduced in writing. 203 0 obj <>stream