Can a Patent pending application be licensed?

There is always a possibility to license a product when its corresponding patent application is pending.Generally long wait for the grant/issuance of patent reduces its value so, many university Technology Transfer Offices/companies often license their Patent pending technology to licensee for commercial usage by receiving some kind of royalties from them.

For example, if a licensee wishes to be trained in a process that is related to patent-pending technology, the applicant could train the licensee in the process, bind the licensee to a confidentiality agreement for trade secret aspects of the process and also collect some royalty any time the licensee uses the technology for commercial gain.

 

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