Define licensing agreement

Wilcox, Deborah A. January Hillstrom, Northern Lights. Find Attorney. For Attorneys. We Help! No Hassles Guarantee. For Attorneys Products Attorney Directory. Search: Search. Popular forms. Licensing Agreements Law and Legal Definition. Advanced Search. Exclusivity: A licensing agreement may be exclusive or nonexclusive. In some cases, such as a franchise agreement or the licensing of widely-used software, the license is by its nature non-exclusive. However, in areas such as publishing, manufacturing, drug formulas, recipes and others, the core value of the license may lie in its exclusivity.

Whether exclusive or nonexclusive, a license is usually limited to a certain time period, a certain format or industry, or within certain geographical bounds.

Other limitations may also apply. Sub-Licenses: In some cases, sub-licensing is permitted and even essential to the licensing agreement. The parties to whom the licensee may grant sub-licenses and under what circumstances must be carefully determined and clearly spelled out in the licensing agreement.

Reservation of Rights: The licensor may wish to or be required to reserve certain rights, such as the right to license the technology or other material for academic research, nonprofit research or humanitarian purposes. Forgot your password? Retrieve it. If by any chance you spot an inappropriate image within your search results please use this form to let us know, and we'll take care of it shortly.

Term » Definition. Word in Definition. Princeton's WordNet 0. Matched Categories Contract. Alex US English. David US English. Mark US English. Without this agreement, the licensor could allow another Burger King franchise to pop up next door. With subsidiary licensing, the licensee could be granted permission to allow another entity to use the licensed work.

For instance, if you're a film producer and license a song, you could still need permission to allow another entity to use the section of your film where the song is playing.

When a party licenses something, they want to ensure it's being used in the right way. This section of the agreement describes how the licensee will ensure that this happens.

This may include periodic quality assurance checks or giving the licensor the right to monitor sales. These are anything else the two parties want to add. For instance, some licensing agreements include non-disclosure agreements within them. This clause would prevent the licensee from disclosing any proprietary information or processes. In order to protect yourself and your business, it's important to be thorough when creating a licensing agreement. Both the licensee and the licensor need to fully understand what they are agreeing to.

Consider the following advice before you get started:. Having a well-written licensing agreement is important for both licensees and licensors. If your business needs help at any point throughout the process, our team of contract lawyers can help.

Whether it be drafting up the entire agreement or reading over your own template, we have the expertise to make sure it's done right. After graduating from The University of Chicago Law School in , Clara spent eight years in private practice representing clients in complex commercial real estate, merger and acquisition, branding, and other transactional matters. Clara then worked as in-house counsel to a large financial services company, handling intellectual property, vendor contracts, technology, privacy, cybersecurity, licensing, marketing, and otherwise supporting general operations.

She opened her own practice in September of and represents hedge funds, financial services companies, and technology companies in a range of transactional matters. Founder and owner of Grant Phillips Law.. The firm specializes in representing business owners with Merchant Cash Advances or Factoring Arrangments they can no longer afford.

The firms clients include restaurants, truckers, contractors, for profit schools, doctors and corner supermarkets to name a few.

Grant Phillips Law will defend small businesses with Merchant Cash Advances they can no longer afford. Whether you have been sued, a UCC lien filed against your receivables or your bank account is levied or frozen, we have your back. See more at www. We provide a strong alternative to traditional hiring by providing you with the power of a team for the price of a temporary attorney. Adept at navigating complex environments, Jonathan has extensive expertise advising clients on a wide range of long- and medium-term cross border and financial engagements, including public tender participation, PPPs, export sales agreements as well as policy and regulatory formulation.

Jonathan and his co-founder, Eva Pico have represented and acted on behalf of lenders, global corporations and other market participants across a range of industries including financial services, infrastructure and transportation. The company employs a unique approach as practical, business minded outside legal counsel who believe in proactively partnering with their clients to achieve desired results while managing and engaging key stakeholders.