LICENSING AGREEMENT
\lˈa͡ɪsənsɪŋ ɐɡɹˈiːmənt], \lˈaɪsənsɪŋ ɐɡɹˈiːmənt], \l_ˈaɪ_s_ə_n_s_ɪ_ŋ ɐ_ɡ_ɹ_ˈiː_m_ə_n_t]\
Definitions of LICENSING AGREEMENT
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By Princeton University
By DataStellar Co., Ltd
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Written contract between the owner/licensor of a patent, copyright, trademark, know-how, service mark, or other intellectual property, and a licensee to use, make, or sell copies of the original. Franchisers promote sales of goods and services through licensing agreements. Commercialization of a technology is a major purpose for licensing agreements. These contracts typically (1) limit the licensee's scope or field, (2) make the license exclusive or nonexclusive, (3) demands royalties or other compensation if further licensing occurs by the licensee.
By Henry Campbell Black
