Licensing Agreement

Licensing Agreement

A contract that allows one party to use another’s intellectual property (e.g., trademarks, patents) under defined conditions.

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Description

A Licensing Agreement grants permission for one party (the licensee) to use another’s intellectual property (the licensor) in exchange for fees or royalties. These contracts are common in industries like technology, entertainment, and consumer goods. The agreement specifies the scope of use, payment terms, quality control measures, and duration. Licensing agreements help businesses expand without significant investment while allowing intellectual property owners to generate revenue. Well-drafted agreements ensure compliance, prevent misuse, and protect the licensor’s rights.