Definition For Licensing Agreement

Ip licensing plays an important role in the economy, science and broadcasting. Business practices such as franchising, technology transfer, publishing and merchandising are entirely dependent on intellectual property licensing. Foc licenses (proprietary licenses) and IP licenses are sub-branches of law resulting from the interaction between general contract laws and specific principles and laws relating to these assets. Most licensing agreements also address quality. For example, the licensor may include in the contract conditions obliging the licensee to provide product prototypes, packaging models and even occasional samples for the duration of the contract. Business assets are those that are most often licensed. All types of business assets can be granted, although licensing most often involves copyrights, patents and trademarks. Digital assets such as brands and apps are usually licensed. On the License Agreement Templates for Digital Resources Abroad, Qiong, T. (2011). Information and Documentation Services, 32 (5), 41-44.

The document focuses on how the overseas license agreement submissions have been used by different digital resources. The digital resources resulted in the provision of relevant information and documentation services necessary during the licensor`s agreement with the licensee. License agreements limit the conditions under which one party may use another party`s property. While the real estate in question can encompass a large number of objects, including real and personal property, licensing agreements are most often used for intellectual property, such as patents and trademarks, as well as copyrights for written materials and visual arts. Here, too, an abbreviated definition of the license is “a promise by the licensor not to sue the licensee.” In other words, without a license, any use or exploitation of intellectual property by third parties would amount to reproduction or infringement. Such reproduction would be inappropriate and could be stopped using the legal system if the IP owner so wished. [3] Licensing agreements should not be entered into without consulting a substantive lawyer. This is due to the fact that each license agreement is usually individual, which also means that one should be wary of standardized or un written agreements. The benefits of licensing can be viewed from two angles: licensors and licensees. Under a typical end-user license agreement, the user can install the software on a limited number of computers. [Citation required] Another common element of licensing agreements includes the party that retains control of copyrights, patents, or trademarks….