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Conclusion

Patent licensing, under the scorching rays of globalization, plays important role in the growth of corporate world.
Though, there are so many off-suites of development, but with the development of Research and development in the lousiness domain, the patent licensing is gaining ground.

The license payments tend to be less costly than in-house Research & Development. It also helps in bringing the new products in the world markets. Besides, the risk becomes lower due to commercializing the invented products.

Now-a-days, each day, we find the scenario of new invention and expectation of new products within shortest span of time. This leads to enhancement of marketing culture and marketing tact. On the whole, we can say that keeping in view the bright & dark side of patent licensing, the brighter side is very much visible. Through, sometimes, some restrictions are imposed by the Govt. on patent licensing, but with privatization-wind, this problem does not stand anywhere.

On fine, we can suggest that patent licensing definitely encourages the scientific development towards changing facts of commodities & services and marketing of talent.

Concluded.

* Contributed by: -
Prof. (Dr.) R.P.Verma,
MASD (USA), MRES (London),
Ex. H.O.D & Dean,
Faculty of Commerce,
Ranchi University, Ranchi,
Dr. Arabinda Bhandari, MBA, Ph.D.
(Strategic Management)