Most inventions, whether products, processes, or technologies, can be licensed. The key is that the invention should be protectable through patents or other intellectual property rights and have commercial viability. 

Licensing agreements vary widely but often range from a few years to decades. The contract should specify the duration, renewal terms, and conditions under which the license can be terminated. 

While having a patent strengthens your position and protects your invention, some inventions may be licensed without a patent if they involve trade secrets or trademarks. However, securing a patent is generally recommended. 

Royalty rates vary depending on the industry and invention type, often ranging from 3% to 10% of the licensee’s sales. Your earnings depend on the invention’s success in the market and the terms negotiated. 

Licensing can be exclusive or non-exclusive. Exclusive licenses grant rights to one company only, while non-exclusive licenses allow multiple companies to license the invention. This depends on your strategy and agreement terms.