Paragon’s team of engineers continuously develop a vast array of innovative, highly sophisticated technologies and inventions which are available for license. Companies interested in acquiring certain rights to Paragon inventions to enhance or expand its current product line can contact us by sending an inquiry to our New Technology Representative.
What is a license? A license is simply an agreement in which Paragon allows you to commercially use or develop our invention for a period of time. In return, you pay for the use with either a one-time payment or continuing payments called royalties. As owner of the invention, Paragon will be the “licensor” and you will be the “licensee.”
What are the advantages of Licensing? The appeal of licensing a patent is to be able to market and earn revenue from a protected technology (no one else can use it). Once you obtain a license you are free to manufacture and market the product as your own either within a certain territory and world-wide depending on the agreement and can defend against competition.
Paragon can also permanently assign all rights to the invention for a flat fee.
How does assignment work? An assignment is a permanent transfer of ownership rights, after which we, the seller, no longer have any rights over the invention.
What if you want an exclusive license? In the case of an unlimited exclusive license, in which a licensee obtains the sole right to market the invention for an unlimited period of time, the terms license and assignment essentially have the same meaning. Paragon is willing to discuss this option and the specific conditions surrounding the invention.