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A patent holder can license or transfer a patent interest. The licensor gives up the right to intellectual property, usually for a specified period. Patent licensing is an agreement between a patent holder and a licensee to transfer interest in copyright to a licensee and enforce intellectual property rights. Licensing a patent means that the patent owner grants permission to another person/organization to make, use, sell, etc. his patent invention. This takes place according to the agreed terms and conditions for a defined purpose, on an assigned territory, and for an agreed period.

DCD Group issues a patent license for each country separately. This means that the licensee is entitled to produce, sell, and distribute the licensed product only in the country for which the license was issued. The license is time-limited and is granted for one year. In order to protect the licensee as well as the distributor at the most, the license will not be issued for the country in which the distributor is located, and vice versa, in the country where the licensee is located, there will be no distributor.

Obligation to make patent rights available – The Licensor is obliged to make available to the  Licensee all technical documentation and information necessary for the exploitation of the patent to produce and sell the licensed product. The Licensor guarantees to the Licensee the technical feasibility and professional usability of the copyright, whose right to use is transferred by the Patent License Agreement.

Guarantee Obligation – The Licensor guarantees to the Licensee the technical feasibility and technical usability of the patent, whose right to use is transferred by signing the Patent License Agreement.

Obligation to preserve the exclusivity of the license – The licensee is obligated that, in the territory for which the license is issued, will not produce, distribute or sell the licensed product itself, and that the right of production and sale of the licensed product will not be transferred to third parties.

License fee – Licensee is obligated to pay a license fee for using license to the Licensor in the amount of 2% of the retail price of all licensed products.

Obligation to Use the License – Licensee is obligated to use the rights transferred by the Patent License Agreement by producing and selling at least 12,000 licensed products annually. If a licensee is from a smaller country and is unable to produce and sell at least 12,000 licensed products, DCD Group will allow such manufacturers to pay a fixed license fee.

Duty to Keep Secrets – Licensee is obligated to keep secret all information that the licensor transfers to it in connection with the production of the licensed product. Licensee shall have the right to disclose such information only to persons employed by him, to the extent necessary for the performance of their duties in the production of the licensed product. Obligation to keep the secret referred to in the preceding paragraph the Licensee has within 20 years after the expiration of the License Agreement.

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