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License Agreement |
Also found in: Encyclopedia | 0.01 sec. |
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License agreement A contract by which a domestic company (the licensor) allows a foreign company (the licensee) to market its products in a foreign country in return for royalties, fees, or other forms of compensation. License Agreement A contract between the inventor or patent holder of a product and another party which grants that party the legal right to market, sell, or otherwise profit from that product. The license agreement may or may not give the other party exclusive right to sell the product, and it may be permanent or temporary. In return, the inventor or patent holder receives a royalty or some other compensation. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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