What does the right pledge in the invention patent contract mean?

Patent pledge means that the debtor or the third party guarantees the performance of its debts with patent rights. When the debtor fails to perform the debt, the creditor has the priority to be compensated for the discount, auction or sale of the patent right. The pledge of patent right or the pledge of property right in patent right belongs to the pledge of rights, which means that the property right in patent right is used as the pledge subject matter. When the debtor fails to perform the debt within the time limit, the creditor has the right to be compensated in priority with the transfer price of the patent right. Patent pledge has the following characteristics: (1) The subject matter of patent pledge is the property right in the right patent. The object of chattel pledge is chattel. The subject matter of other rights pledge is various rights different from patent rights. (2) During the period of patent pledge, the pledgee has absolutely no right to license others to use or transfer the pledge right, and the pledgee only has the right to possess and preserve the right. (3) During the pledge of the patent right, all expenses for maintaining the patent right itself, such as annual fees and patent fees, shall be borne by the pledgor. However, if the pledgee thinks that the pledge may be beneficial to him, he can also pay the expenses himself, and the pledgee has the right to demand the pledgor to compensate these expenses. (4) The registration of patent pledge takes effect. The pledge of movable property takes effect when the pledged property is delivered to the pledgee. However, in addition to concluding a pledge contract, the patent pledge must also be registered, and the contract will take effect from the date of registration. Patent Law Article 1 This Law is formulated for the purpose of protecting the legitimate rights and interests of patentees, encouraging inventions and creations, promoting the application of inventions and creations, enhancing innovation ability, and promoting scientific and technological progress and economic and social development.