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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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0-9
A contractual provision that limits potential liability of the parties to an agreement. May limit the amount for which the parties may be liable. May provide limits of liability for particular types of claim.
Clause outlining how the parties will deal with late payment. In the event of late or delayed payment, this clause would provide rights to the party awaiting payment. This would normally take the form of charging interest at a recognised bank rate plus several percentage points. In the event that late payment becomes a recurring [...]
The agreement between the parties that provides the licensee with rights to the intellectual property owned by the licensor. In other words: “….it is a promise by the licensor not to sue the licensee.” — Sindelfabrik Suessen-Schurr Stahlecker & Grill GmbH v. Schubert & Salzer Maschinenfabrik Aktiengesellschaft , 829 F.2d 1075, 1081 (Fed. Cir. 1987), [...]
One who receives a licensed right from another party (licensor).
One who grants a license right to another party (licensee).
An agreement by the owner (licensor) 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.
The granting of permission to use intellectual property rights, such as trademarks, patents, or technology, under defined conditions.
