The article takes Lear case as example,analyses the theories about Patent owner transfering the right of use to the licensee by licensing agreement and concludes that the benefit of licensee would be influenced because what he acquired is only the right of use when patent owner exercises his patent rights after licensing agreement,such as pledging patent,declaring invalidity of patent.etc. Therefore the article points out that our patent Law ignored the legal charicteristic of patent licencing and the protection of licensee's benefit during exercising Patent Rights to some extent.It has exacted conflicts between regulations and the goal of patent law in itself.At last,this article observed the exercising patent right from the licensee's standpoint,and insisted that right exercising of patent owner should be limited and regulated.