"Innovation is the central issue of economic prosperity." — Michael Porter, Harvard Business School professor.
In fact, the entire body of patent law is dedicated to encouraging innovation, both domestically and abroad.
Licensing inventions vis-a-vis the licensing of patents is not a new practice by any means. However, the explosion of innovation in industries such as technology and pharmaceuticals has placed patent licensing at the forefront of economic advancement.

"Innovation is the central issue of economic prosperity." — Michael Porter, Harvard Business School professor.
In fact, the entire body of patent law is dedicated to encouraging innovation, both domestically and abroad.
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