Patent pools are agreements between "two or more patent owners to license one or more of their patents to one another or to third parties." [http://www.wipo.int/export/sites/www/ip-competition/en/studies/patent_pools_report.pdf (WIPO)] Generally, patent pools cover mature and complex technologies that require complementary patents to develop compatible products and services. [http://www.wipo.int/export/sites/www/ip-competition/en/studies/patent_pools_report.pdf (WIPO)]. More recently, patent pools have become standardized by the Department of Justice, legally recognized only if the following four criteria are met:
:: #Essential patents included only. :: #Complementary patents included only. :: #Sensitive information may not be shared amongst parties. :: #Substitute products may still be developed by parties included in the licensing agreement [http://www.wipo.int/export/sites/www/ip-competition/en/studies/patent_pools_report.pdf].
===Benefits===