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To learn more about our privacy policy Click hereA license allows another party to use your invention during a certain period. The inventor would receive royalties, which would be either a one-time payment or periodic payments, in exchange for the license. You will need to convince potential licensees that the invention is sufficiently developed to be marketable and that it would facilitate the operations of their business or otherwise generate profits for them. Inventors often struggle with this process. Only a very small percentage (perhaps 10 to 15 per cent) are successful in licensing an invention.