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:
“If a girl’s a stewardess, she might as well forget it after twenty-six. They no longer have compulsory retirement, but the girls get into a rut at that age. A lot of them start showing the rough life they’ve lived.”
—Beryl Simpson, U.S. employment counselor; former airline reservationist. As quoted in Working, book 2, by Studs Terkel (1973)
“Only one marriage I regret. I remember after I got that marriage license I went across from the license bureau to a bar for a drink. The bartender said, “What will you have, sir?” And I said, “A glass of hemlock.””
—Ernest Hemingway (1899–1961)