Glossary entry (derived from question below)
English term or phrase:
a running royalty based license under the XXX patent rights
English answer:
licence and running royalty
Added to glossary by
Cristina Pedrazuela
Feb 17, 2005 17:49
19 yrs ago
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English term
cristina
a running royalty based license under the XXX patent rights
English
Law/Patents
Law: Patents, Trademarks, Copyright
pATENT CONTRACT
If A subsequently grants to any manufacturer or seller of LICENSED PRODUCT, a running royalty based license under the XXX PATENT RIGHTS without any consideration but with royalty rates more favorable to that party than those set forth in this Agreement
Responses
| 4 +1 | licence and running royalty |
juvera
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Responses
+1
4 hrs
juvera
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licence and running royalty
Licence agreement between two or more parties where the licensor grants the licence/right to the licensee to use its patent or other industrial/intellectual property for the manufacture of certain products for a certain amount of fee or royalty. The "running royalty" is based on net sales for the duration of the licence, as opposed to a fee, which is a negotiated lump sum.
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