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welcome to another weekly installment of our intellectual property question and answer session clients often have the option of either licensing or assigning the rights to the patents that they have obtained a license is when the patent owner grants exploitation rights over a patent to a licensee a license is a legal contract and will have conditions with which the rights are granted if the conditions are not met the license may be terminated an assignment involves the sale and transfer of ownership of the patent by the patent owner to the assignee this transfer of ownership is permanent and irrevocable if the client seeks to be paid royalties for his or her invention licensing is the most common and most prudent choice royalties are typically paid over the life of the patent which is 20 years from the date of filing where royalties are sought on this long-term basis a license is probably a better choice however if the patent owner prefers to receive a lump sum price rather than collec
