Glossary

Current Partnering's comprehensive listing of terms used in business development.

When I use a word,' Humpty Dumpty said in a rather scornful tone. 'it means just what I choose it to mean - neither more nor less.' Lewis Carroll, Through the Looking Glass

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Limitation of Liability

A contractual provision that limits potential liability of the parties to an agreement
Late payment

Clause outlining how the parties will deal with late payment
License agreement

The agreement between the parties that provides the licensee with rights to the intellectual property owned by the licensor.
Licensee

One who receives a licensed right from another party (licensor)
Licensor

One who grants a license right to another party (licensee)
License

An agreement by the owner (licesnor) of an intellectual property (IP) that permits another person or entity (licensee) to exploit that IP in a manner that it could otherwise be illegal to do.
Licensing

The granting of permission to use intellectual property rights, such as trademarks, patents, or technology, under defined conditions.