Definition
A licensing agreement is a legal contract or arrangement between a licensor (the owner of intellectual property) and a licensee (the authorized user) granting permission to use, produce, distribute, or commercialize intellectual property rights, such as patents, trademarks, copyrights, or trade secrets, in exchange for royalties, fees, or other considerations. Licensing agreements enable companies to leverage their intellectual assets, expand market reach, and generate revenue without manufacturing or marketing products or services themselves.
Our trending searches definitions
Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.