CLP IP Portfolio Management & Strategy 3

Question 1

What is the key distinction between an exclusive license and an assignment of IP?

Accepted Answer

An assignment permanently transfers full ownership, while an exclusive license grants rights while the licensor retains title

Answer

In an assignment, legal title to the IP transfers permanently to the assignee; in an exclusive license, the licensor retains ownership but grants the licensee sole rights to use the IP.

Question 2

Which of the following is a primary advantage of a non-exclusive licensing strategy for an IP owner?

Accepted Answer

Maximizing total licensing revenue by licensing the same IP to multiple parties simultaneously

Answer

Non-exclusive licensing allows the licensor to collect royalties from multiple licensees concurrently, potentially generating greater aggregate revenue than a single exclusive deal.

Question 3

What is 'open innovation' in the context of IP management?

Accepted Answer

A strategy where companies leverage both internal and external ideas and technologies, and share IP with partners, to accelerate innovation

Answer

Open innovation involves purposefully accessing external knowledge and collaborating on IP development, rather than relying solely on internal R&D, to speed commercialization and reduce costs.

Question 4

In licensing strategy, what is a 'field of use' restriction?

Accepted Answer

A limitation that confines the licensee's use of the IP to a specific application, industry, or market segment

Answer

Field of use restrictions allow licensors to segment markets by limiting each licensee to a defined application, enabling multiple non-competing licensees in different fields from the same IP.

Question 5

What is the purpose of a 'most favored licensee' (MFL) clause?

Accepted Answer

To ensure that a licensee receives terms at least as favorable as those granted to any other licensee for the same IP

Answer

An MFL clause protects the licensee by contractually requiring the licensor to offer equivalent or better terms if it subsequently grants more favorable terms to another licensee for the same IP.

(CLP) Certified Licensing Professional Practice Test

(CLP) Certified Licensing Professional Practice Test

CLP IP Portfolio Management & Strategy 3