What do you mean by patent pledge and revocation?

Patent pledge means that the debtor or the third party guarantees the performance of his debt with patent right. 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. Patent pledge has the following characteristics:

(1) The subject matter of patent pledge is right-the property right in patent is the subject matter. 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 pledge of patent rights must also be registered, and the pledge right will take effect from the date of registration.

The pledge and revocation of patent right refers to the dissolution of the relationship with the third party.