Editing License (section)

== Patent licensing ==
<!-- [[Patent licensing]] redirects here. -->
Like other intellectual property, patent owners may grant permission to others to engage in conduct that would otherwise be within the scope of a patent.<ref name="LexisNexis">{{Cite web |last=Kasdan |first=Michael |date=2019-09-10 |title=Patent Licenses: Key Provisions |url=https://www.lexisnexis.com/supp/LargeLaw/no-index/coronavirus/intellectual-property/intellectual-property-and-technology-patent-licenses-key-provisions.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://www.lexisnexis.com/supp/LargeLaw/no-index/coronavirus/intellectual-property/intellectual-property-and-technology-patent-licenses-key-provisions.pdf |archive-date=2022-10-09 |url-status=live |access-date=2021-02-04 |website=LexisNexis}}</ref> For example, a patent owner may authorize a licensee to make, use, sell, offer for sale, or import a patented product. Such agreements are typically referred to as a '''patent license agreement''' or a '''covenant not to sue'''. These agreements can last for a specific period of time (such as five years) or for the entire life of the patent (''i.e.,'' until the patent expires).<ref name="LexisNexis" />  Patent license agreements may also be exclusive (''i.e.,'' the licensee is the only person or entity that is allowed to sell, make, use, offer to sell, or import the patented invention) or non-exclusive (''i.e.,'' the licensee is simply one of several entities who has rights under the patent).<ref name="LexisNexis" /> Finally, any rights given under the agreement may be limited to a particular "field of use" (''e.g.,'' a licensee may be able to practice an invention in the field of consumer electronics, but not in the field of industrial electronics).<ref name="LexisNexis" />

Often, patent owners will require a licensee to pay money in exchange for granting a patent license.  Such payments are referred to as [[Royalty payment#Patents|royalty payments]] and come primarily in two forms: lump sum or running royalty.<ref name="LexisNexis" /> A lump sum royalty involves an upfront, one-time payment, while a running royalty typically involves periodic payments (''e.g.,'' quarterly or annual) based on the number of patented products sold or imported.