[Verse 1] When innovation meets the market floor Patents grant exclusive rights and more Twenty years for utility's reign Design gets fifteen to stake its claim Utility covers how things work and function Design protects the visual conjunction The blueprint's drawn, the filing's done Now licensing deals can be begun [Chorus] License to build, license to sell Utility function, design as well Scope and territory, time and fee Patent licensing sets the IP free Exclusive rights or non-exclusive share Cross-licensing when both parties care Remember the terms: duration, field, and ground Patent licensing makes the tech world go around [Verse 2] Sarah's startup needs a processor chip But Intel holds the patents in their grip A licensing deal opens up the door Non-exclusive use, she pays royalties for Territory matters, is it worldwide or local Field of use defines what's in the focal Smartphone apps or medical device Each licensing scope has its own price [Chorus] License to build, license to sell Utility function, design as well Scope and territory, time and fee Patent licensing sets the IP free Exclusive rights or non-exclusive share Cross-licensing when both parties care Remember the terms: duration, field, and ground Patent licensing makes the tech world go around [Bridge] Cross-licensing when giants collide Apple and Samsung put disputes aside Patent pools gather standards together FRAND terms help companies weather The storm of litigation costs so high Reasonable rates that all can buy [Verse 3] Exclusive licensing means you stand alone The patent holder gives you rights they own But non-exclusive lets them license more Multiple players can enter the floor Royalty rates as percentage or flat Upfront payments where the deal is at Due diligence checks the patent's strong Before you sign and sing licensing's song [Chorus] License to build, license to sell Utility function, design as well Scope and territory, time and fee Patent licensing sets the IP free Exclusive rights or non-exclusive share Cross-licensing when both parties care Remember the terms: duration, field, and ground Patent licensing makes the tech world go around [Outro] From semiconductors to software code Patent licensing paves the innovation road When creation meets collaboration's call Licensed patents help us build it all
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