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In this episode of Bent Right's YouTube show, Andrew Krause discusses the basics of licensing contracts. He clarifies the difference between a patent, which protects an invention, and a licensing agreement, which is a deal that allows a company to sell a product in exchange for paying royalties. He emphasizes the importance of understanding licensing agreements and highlights a common misconception: many companies are indifferent to patents when entering licensing deals, often focusing solely on the royalty payments instead. The discussion aims to educate viewers about the essential elements and implications of licensing agreements.
