license

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license

An authorization for a particular person or entity to do some act on the land or property of another. Licenses are revocable at will, grant no exclusivity, and are not assignable.The one who receives the license is the licensee;the one who grants it is the licensor.

References in periodicals archive ?
It often happens that ah exclusive license gives the licensee so many rights that it becomes almost an assignment.
Finally, Alnylam has granted Inex an exclusive license to Alnylam technology and intellectual property for discovery, development, and commercialization of immune stimulatory oligonucleotides that do not function through an RNAi mechanism.
Also in December, the company entered into a five-year exclusive license agreement with New Line Home Video, a leading independent producer, and an exclusive license agreement with Sultan Entertainment, formerly Nelson Entertainment, obtaining rights to Sultan and selected Castle Rock Entertainment titles.
The agreement marks Auriga's third major product acquisition or exclusive license in less than two months.
The agreement provides The Victor Smorgon Group with an exclusive license to distribute, install and operate GreenFuel's Emissions-to-Biofuels(TM) proprietary technology for growing, harvesting, and processing biomass and products derived from algae throughout Australia and New Zealand.
The Company holds exclusive licenses to US Patent #6,101,534, "Interactive, Remote, Computer Interface System", and US Patent #6,952,697, "A Media Validation System" and to a number of additional patent applications pending with the USPTO.
Any exclusive license agreement would include upfront license fees, future milestone payments and royalties on product sales.