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Patent Terms - L

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• Large Entity
• License
• Licensee

• Licensing Agent
• Licensor

Large Entity: U.S Patent and Trademark Office (USPTO), defines a small entity.  Any entity that is not a small entity would be a large entity. A small entity for purposes of paying reduced fees is defined in 37 CFR 1.27(a) as a person, a small business concern (a for-profit company with less than 500 or more employees), or a nonprofit organization. The term "person" rather than "independent inventor" is used since individuals who are not inventors but who have received some rights in the invention are intended to be covered by 37 CFR 1.27.

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License: A grant of the right to use some intellectual property such as a patent, trademark or copyright. The contractual terms of the agreement usually allow for a payment in the form of a royalty from the grantor/ licensor to the grantee/licensee of the license in exchange for the right to use the intellectual property.

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Licensee: The entity that is granted a right to use some intellectual property such as a patent, trademark or copyright.  

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Licensing Agent: A promoter of the sale of the use of intellectual property to potential purchasers. A licensing agent may represent either the licensee or licensor in an effort to secure a licensing agreement.

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Licensor: The entity that grants a license (right to use) some intellectual property such as a patent, trademark or copyright.  

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