The Key Steps to Successful Patent Licensing Agreements
One of the foremost benefits of Patent Licensing is its ability to create a steady stream of income. Innovators who may lack the resources or infrastructure to bring their patented technology to the market independently can instead license their patents to companies equipped to commercialize them. For instance, industries such as pharmaceuticals and technology frequently see this in action. According to Statista, global pharmaceutical patent licensing revenues reached $2.9 billion in 2021, emphasizing its economic significance. Licensing allows innovators to penetrate markets faster by leveraging existing distribution networks and expertise of licensees. To get more info visit here #patentlicensing
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