Licensing Agreement
/ˈlaɪsənsɪŋ əˈɡriːmənt/
Definitions
- (n.) A legal contract whereby the owner of intellectual property permits another party to use, make, or sell the property under defined conditions.
The company signed a licensing agreement to manufacture the patented device.
Related terms
See also
Commentary
Draft clearly the scope and limitations of the permitted use to avoid disputes over infringement or breach.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.