The Advent of Patent Pools

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What is a patent pool?

The Advent of Patent Pools

If your invention work is within the science or technology field, an interesting development contributing to the speed of technological advancements is the patent pool. A patent pool is an agreement between two or more patent owners to license one or more of their patents to one another or third parties. A patent pool allows interested parties working on science inventions to gather all the necessary tools to practice a certain technology in one place.

The idea behind this is that by allowing access to patented technologies, it will remove impediments to the development of other vital products and processes using those patented ones. For biotechnology and pharmaceuticals, patent pools aid in the quick development of new drugs, tests and therapies that improve people's lives.

   

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