Glossary
License
Last updated 04 June 2007
Description
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.
Examples
Company A desires to grant to Company B, and Company B desires to obtain from Company A, an exclusive license to market the Product and an exclusive right to purchase from Company A and distribute the Product, all under the terms and subject to the conditions set forth herein.
See Also
Scorecard Index
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