8. Patent vs. License

What is the difference between a patent and a license?In this episode, Jamie and Samar discuss the differences between a patent and a license.  Topics include:Key differencesDo you need an issued patent to get a licensing deal?Are there benefits of securing a licensing deal during the patent pending phase?Overcoming fears and uncertainties around licensing an inventionWhat is a license (a contract that allows someone to use your patented invention in exchange for payment)Licenses can be exclusive or non-exclusiveMost common patent licensing deal structures (lump sum payment, royalty rate per unit sold, percentage of profits)Finding potential licensing partnersTips for writing a patent application with licensing in mind (understand potential partners’ portfolios, draft claims accordingly)Timestamps:0:00 - Introduction2:30 - Do you need an issued patent to get a licensing deal?5:15 - Overcoming inventor fears about licensing7:00 - Defining what a license agreement is10:30 - Exclusive vs. non-exclusive licensing12:45 - Typical licensing payment structures15:00 - Finding potential licensing partners (teaser for future episode)17:30 - Writing patents with licensing in mind