Overview

Contracts

License Agreement

April 12, 2024

License Agreement

A license agreement can also be a contract allowing other parties to profit from an inventor’s service or product for a share of the profit. This procedure is commonly encountered in companies that use the license agreement to benefit from specific intellectual property copyrights or even patents for obtaining royalty percentages. Even more so, it is essential to note that a license agreement is widely spread and used when commercializing new technological discoveries. 

It is also mandatory to specify how the licensed parties might use the property and details regarding the geographical region, the time in which parties can use the property, and whether or not it is an exclusivity or non-exclusivity agreement.

Subjects

License Agreement
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