Patent licensing strategy for stakeholders entering the Internet of Things (IoT)

The Internet of Things (IoT) is providing new opportunities for a wide variety of market players. The IoT only exists due to standards such as 5G. Among other benefits, standards permit interconnectivity and interoperability, making possible real-time communication between devices. Standards are generally protected by patents, accessible on fair, reasonable and nondiscriminatory terms and conditions. Hence, a customized patent licensing strategy might be necessary for implementers using or planning to adopt these technologies. This article provides some guidelines based on the legal frameworks and best practices that implementers can use in their own patent licensing strategy while entering the IoT. © The Author(s) 2022. Published by Oxford University Press. All rights reserved.