Owning a Patent

Patents can be incredibly useful to whoever owns them. However, ownership of patents can be somewhat confusing at times. This is because either a person or a business entity may own a patent. However, even if an entity owns a patent, it is generally required that the inventor or inventors be named on the patent. It must also be displayed to the public how the owner of the patent obtained the rights to it from the inventor.

In the United States, only individuals may apply a patent. However, it is not uncommon for an inventor to give ownership rights to a business entity. In fact, corporations often require that their employees relinquish ownership rights to the corporation. The inventor is still credited on the patent, and is often reimbursed for it, but ownership belongs to the corporation.

If there are multiple inventors, they each own the patent individually of each other. This means that one inventor may grant licenses independent of the other inventors unless there is an agreement barring this.

The ability to buy, sell, and lease patents, as well as grant licenses, improves the liquidity of the patent. This means that it is more of an object that can be owned, like any other.

It is in your best interest to seek legal advice if you are interested in patenting one or many of your inventions or creations.

Speak with a Patent Litigation Lawyer

If you are considering patenting and would like more information about patents and the patenting process, contact the patent litigation attorneys of Williams Kherkher at 866.950.9000.