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New program ensures faster licensing of technologies

US department of energy launched an interesting program for entrepreneurs to license their technologies and file patent applications in an easier, faster and much economical way without burning a hole in your pocket. This initiative was taken under the Start up America campaign  to increase the number of start up ventures across the country, allowing job growth. Under this initiative,budding entrepreneurs can license their technologies and obtain patents for the same. In the past, it has been extremely difficult for the small entrepreneurs to gain license for their inventions and technologies and thus many potential technologies couldn't be able to hit the markets. With this new initiative, entrepreneurs and start up companies can license their technologies from may to mid december, which are developed in any of the seventeen US national laboratories, with less onerous paper work and with a nominal fee of $1000 for nearly three patents compared to a much larger fee of approximately $15000 per patent. Surely, it is a great step and will provide more innovations to reach the global markets.

(Image by Mike Johnson)