I have a question about licensing? If an individual secures a patent, can he license it out to multiple manufacturers who may or may not patent their particular application of this product or can it only be licensed out to one?
You can license a patent exclusively (only one licensee is allowed to practice it) or non-exclusively (multiple licensees are allowed). But don’t expect non-exclusive licenses to fetch the same revenue an exclusive license would.
It’s worth noting that, even if you don’t have a license, you can still potentially patent your own application of the product, if you add some value to it, such that the improvement constitutes an invention in itself.
And yes, this means you might own a patent for a product that you’re not legally allowed to sell, since it still uses the patented invention of the original inventor, for which you don’t have a license. This can produce amusing and/or infuriating results.
I am glad you posted that, I was wondering about that but was not exactly sure how to pose the question. I have been thinking of leaving some room in it to make it more attractive to manufacturers but at the same time I am worried about screwing myself.
This is definitely a good point. I think exclusivity would also make for better working relationships that can be valuable in themselves.