The ownership of the patents and its corresponding rights come into existence upon registration before the Superintendency of Industry and Trade.
The owner of a granted or pending patent may license or transfer patent rights to one or more third parties; exclusive licenses and transfers must be registered before the Superintendency of Industry and Trade. If they are not registered, it will be unenforceable against third parties.
Articles 59 and 60 of Decision 486 establish that the owner of the patent shall exploit the patented invention either directly or through an authorized person. For this purpose, exploiting the patent is understood as:
- The industrial manufacture of the patented product or the full use of the patented process in a manner sufficient to meet the needs of the market and
- The import of the patented product, including distribution and marketing, where it is done on a scale sufficient to meet the needs of the market.
Upon the expiry of a period of 3 years following the day the patent was granted, or 4 years following the application for the patent, whichever is longer, an interested third party may request that the Superintendency of Industry and Trade grant a compulsory license for the industrial manufacture of the patented product or for the full use of the patented process, if at the time of such request, the patent has not been exploited or the exploitation has been suspended for more than a year. In any case, the owner of the patent might provide legitimate explanations for the non-exploitation, including force majeure and fortuitous events.
Nonetheless, Article 66 of Decision 486 foresees that:
"a compulsory license shall only be granted where the person who requests it has previously attempted to obtain a contractual license from the owner of the patent on reasonable commercial terms and conditions, and where that attempt has not had any effect within a reasonable time."