FAQs about Inventions & Patents
Question: Can I obtain a world-wide license?
Answer - Usually, the licensing of inventions is granted on a worldwide basis although this is not required.
Question: When are royalty payment made to inventors?
Answer - Royalty payments to inventors are processed two times in the calendar year. The first payment is made from late May to mid-June. The second payment is made from early to late December.
Question: Will I receive a tax statement for royalty payments?
Answer - If you receive royalty payments of $10.00 or more in the calendar year, your will receive Form 1099-MISC Miscellaneous Income. Payments for less than $10.00 are taxable, but Form 1099-MISC will not be issued.
Contact us for legal assistance with any invention idea or issues related to inventions such as:
Ideas,
Invention Awards,
Applying for a Patent,
and any other IP related technology legal help.
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