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 ?
Let's assume that the licensor submits a first draft incorporating the following definition of the term:
The licensee must monitor the case and move promptly to exercise its rights when the licensor debtor seeks rejection to prevent the licensor from using bankruptcy to rescind the right to use IP.
Other courts, relying on the language of comment (d), concluded that trademark licensors could be held liable as ostensible manufacturers, even in the absence of evidence of participation in the chain of distribution, where the licensor's name appeared on the product and there was no prominent disclosure of the actual manufacturer.
How is the situation different when the licensee files for bankruptcy protection, and what can the licensor do to protect itself?
Naturally, the type of licence, and its terms, will greatly influence the royalties paid to the licensor.
For a licensing arrangement to work, the opportunity must be profitable for both the licensor and the licensee.
Also, any contested adverse audit findings should be subject to the dispute resolution mechanism in the contract without giving the licensor the right to unilaterally remove or terminate the software.
Under an exclusive license, the licensor confers full ownership of and exclusive control over the licensed intellectual property to the licensee for a particular use, over a particular geographical area and/or for a specific period of time.
In a licensing arrangement, the licensor typically offers a licensee the right to produce and distribute the licensor's products for a defined period in exchange for a royalty.
PATEX also includes licensing news from IP Today, a discussion forum, transaction assistance, expert advice, and tools that speak to the specific needs of the licensor and licensee alike.
The best way to manage this risk is to ensure the licensing agreement gives the licensor adequate quality control.
a leading producer of recordable media and information technology, has joined the One-Blue product licensing program as a licensor.

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