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CS Professional · Intellectual Property Rights - Law and Practice · Business Concerns in Commercializing Intellectual Property Rights

Meera Pharma Pvt Ltd is the registered grantee of a patent. It wishes to grant a licence under the patent to Bharat Labs and receive royalty. Whose power does the Patents Act, 1970 recognise for this, in the absence of co-ownership or notified third-party rights?

The registered grantee or proprietor has the power to assign, grant licences and give effectual receipts for the consideration, subject to co-ownership provisions and any rights entered in the register. This follows from Section 70 of the Patents Act, 1970.

  1. AOnly the Controller, who must grant licences on behalf of patentees
  2. BThe person registered as grantee or proprietor, who has power to assign, grant licences and give effectual receipts for considerationCorrect
  3. COnly a registered patent agent acting under Section 127
  4. DOnly the Central Government

Explanation

Section 70 gives the registered grantee or proprietor power to assign, grant licences or otherwise deal with the patent and to give effectual receipts, subject to co-ownership provisions and rights notified in the register. Section 127 concerns patent agents' practice before the Controller, not licensing power.

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