Q: How may I buy a patent from any company?

I would like to buy a patent , jewellery article from company which has already got one

3 Lawyer Answers

Kevin E. Flynn

PREMIUM
Answered
  • Patents Lawyer
  • Chapel Hill, NC

A: You have several options. You can buy the patent outright if they are willing to sell. Then you would have them sign an assignment document to transfer ownership to you just as you do when you move the title of a car or a house from one person to another. You would record that assignment here -- https://epas.uspto.gov/.

If you want the right to make and use what is in the patent and do not care if someone else can make and use what is in the patent, then all you need is a non-exclusive license. This will be less expensive and more likely to be a pay as you go agreement where you pay a royalty for the number of sales that you make. There may be a minimum royalty so that if you do not make much use of the patent, you pay the minimum.

Partway between the two is an exclusive license. This is much like owning the patent as no one else can make or use what is in the patent. You will pay more than you would for a non-exclusive license. You may have much higher minimum annual royalties. An advantage for the original patent holder is that if you stop making the minimum payments, you are in breach of the license contract and they terminate your exclusive license without having to get an assignment back from you.

These agreements are not DIY items. You need to hire an attorney familiar with patent licenses as there are provisions in this sort of license that do not show up in other contracts.

NOTE -- just like buying a house that you like, you should run a complete set of due diligence on the existing patent to ensure that it is still in force and their are not good reasons why someone could deem the patent to be invalid. Buying an invalid patent will not give you much value as other people may choose to ignore that you hold a patent at all. This is another task for a patent attorney to do.

If you found this answer helpful, you may want to look at my answers to other questions about patent law are available at the bottom of my profile page at

https://lawyers.justia.com/lawyer/kevin-e-flynn-880338

Kevin E Flynn

Marcos Garciaacosta agrees with this answer

Griffin Klema

Answered
  • Patents Lawyer
  • Tampa, FL

A: Purchase the patent in a written contract (you get the patent by what is called an assignment). Or you can make the jewelry if you purchase just a license without buying the whole patent. That can be either an exclusive license or a non-exclusive one. Licenses are much more complex than a purchase agreement, and you should consult a lawyer. If the company agrees to sell you the patent, the assignment document is fairly simple and you might be able to prepare it yourself. As always, your investment in the IP would be better protected if you work with a lawyer who can ensure everything is done correctly to avoid problems later.

Marcos Garciaacosta agrees with this answer

Marcos Garciaacosta

Answered
  • Patents Lawyer
  • Mesa, AZ

A: Are you referring to the name or the design of the product?

They are two different things.

And you should engage with the owner and negotiate price and terms.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.