licensing agreement definition

licensing agreement

Written contract under which the owner of a copyright, know how, patent, servicemark, trademark, or other intellectual property, allows a licensee to use, make, or sell copies of the original. Such agreements usually limit the scope or field of the licensee, and specify whether the license is exclusive or non-exclusive, and whether the licensee will pay royalties or some other consideration in exchange. While licensing agreements are mainly used in commercialization of a technology, they are also used by franchisers to promote sales of goods and services.

licensing agreement is in the Banking, Commerce & Finance and Corporate, Commercial, & General Law subjects.

licensing agreement appears in the definitions of the following terms: grant of use permission, developmental license, grant back clause, proprietary software and click-wrap agreement

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