Licensing agreement
A licensing agreement is a contract between two parties - a licensor and a licensee. It permits the licensee to use property belonging to the licensor.
What is a licensing agreement?
A licensing agreement permits a licensee to use property belonging to a licensor. These written agreements define a set of parameters for using the licensor’s property. This means that even under a licensing agreement the licensed property may not be used for any purpose - except those outlined in the agreement.
Licensing agreements can cover a wide variety of property: real estate holdings, personal possessions or intellectual property like copyrights, trademarks or patents.
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