A compulsory license, also known as statutory license or mandatory collective management, provides that the owner of a patent or copyright licenses the use of their rights against payment either set by law or determined through some form of arbitration. In essence, under compulsory license, an individual or company seeking to use a patent can do so without seeking the patent holder's consent, and pays the patent holder a set fee for the license.
Read more about Compulsory License: Copyright Law, Patents
Famous quotes containing the words compulsory and/or license:
“Lesbian existence comprises both the breaking of a taboo and the rejection of a compulsory way of life. It is also a direct or indirect attack on the male right of access to women.”
—Adrienne Rich (b. 1929)
“Nature is mythical and mystical always, and works with the license and extravagance of genius. She has her luxurious and florid style as well as art.”
—Henry David Thoreau (1817–1862)