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Shop Right
Shop right, in United States patent law, is an implied license under which a firm may use a patented invention, invented by an employee who was working within the scope of their employment, using the firms' equipment, or inventing at the firms' expense. Even if the employee never assigned rights to the firm, a court of law may find that the firm has the right to make use of the invention, and thus can not be sued by the employee for patent infringement. This will allow the firm to attempt to capitalize on the value of the patent, as the firm is allowed to use the object of the patent in the routine operation of its business without royalty payment A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or ...s. Shop right is non-transferable. It only inures to the benefit of the employer and c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Patent Law
Under United States law, a patent is a right granted to the inventor of a (1) process, machine, article of manufacture, or composition of matter, (2) that is new, useful, and non-obvious. A patent is the right to exclude others, for a limited time (usually, 20 years) from profiting from a patented technology without the consent of the patent holder. Specifically, it is the right to exclude others from: making, using, selling, offering for sale, importing, inducing others to infringe, applying for an FDA approval, and/or offering a product specially adapted for practice of the patent. History 1623. England adopts Statute of Monopolies, which has been acknowledged as a legal predecessor of the US patent law. 1789. U.S. Constitution in Article I, Section 8, Clause 8 authorizes Congress "to promote the Progress of . . . useful Arts, by securing for limited Times to . . . Inventors the exclusive Right to their . . . Discoveries." It is believed that, unlike most parts of the U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Implied License
An implied license is an unwritten license which permits a party (the licensee) to do something that would normally require the express permission of another party (the licensor). Implied licenses may arise by operation of law from actions by the licensor which lead the licensee to believe that it has the necessary permission. Implied licenses often arise where the licensee has purchased a physical embodiment of some intellectual property belonging to the licensor, or has paid for its creation, but has not obtained permission to use the intellectual property. Examples * A person who purchases a record album does not explicitly purchase a right to ''perform'' that album by playing it on a record player, but this right is implied. * In patent law, if an employee invents something while on company time, the employer receives an implied license to use the invention, even if no contract exists to assign rights to the employer. This is sometimes referred to as shop right. In copyrigh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Law
A court is an institution, often a government entity, with the authority to adjudicate legal disputes between Party (law), parties and Administration of justice, administer justice in Civil law (common law), civil, Criminal law, criminal, and Administrative law, administrative matters in accordance with the rule of law. Courts generally consist of Judge, judges or other judicial officers, and are usually established and dissolved through legislation enacted by a legislature. Courts may also be established by constitution or an equivalent constituting instrument. The practical authority given to the court is known as its jurisdiction, which describes the court's power to decide certain kinds of questions, or Petition, petitions put to it. There are various kinds of courts, including trial courts, appellate courts, administrative courts, international courts, and tribunals. Description A court is any person or institution, often as a government institution, with the authori ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Patent Infringement
A patent is a type of intellectual property that gives its owner the legal right to exclude others from making, using, or selling an invention for a limited period of time in exchange for publishing an enabling disclosure of the invention."A patent is not the grant of a right to make or use or sell. It does not, directly or indirectly, imply any such right. It grants only the right to exclude others. The supposition that a right to make is created by the patent grant is obviously inconsistent with the established distinctions between generic and specific patents, and with the well-known fact that a very considerable portion of the patents granted are in a field covered by a former relatively generic or basic patent, are tributary to such earlier patent, and cannot be practiced unless by license thereunder." – ''Herman v. Youngstown Car Mfg. Co.'', 191 F. 579, 584–85, 112 CCA 185 (6th Cir. 1911) In most countries, patent rights fall under private law and the patent holder mu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royalty Payment
A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.Guidelines for Evaluation of Transfer of Technology Agreements, United Nations, New York, 1979 A royalty interest is the right to collect a stream of future royalty payments. A license agreement defines the terms under which a resource or property are licensed by one party ( party means the periphery behind it) to another, either without restriction or subject to a limitation on term, business or geographic territory, type of product, etc. License agreements can be regulated, particularly where a government is the resource owner, or they can be private contracts that follow a general structure. However, certain types of franchise ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
