Legal Question in Intellectual Property in California
Inventors Legal Rights
If I invent a product and license it to a third party on an exclusive basis do I as the inventor, still retain or have the right to practice the invention for my own use?
2 Answers from Attorneys
Re: Inventors Legal Rights
It depends on the license agreement. Basically, it is all negotiable. We would be happy to consult with you further, if you wish. Just contact us through our website.
Re: Inventors Legal Rights
It depends entirely on what you agreed to when you issed the license. If the license says you gave this person "exclusive use", it probably means you have agreed not to use it yourself in competition with him. That means, of course, that you need to set the license fee sufficiently high--usually such an exclusive license would include a flat fee for a fixed term in addition to a percentage of his profits from the use.
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