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.
Under the terms of that original agreement, Merck obtained an exclusive license to research and develop monoclonal antibody products, an option to develop vaccine products, and the non-exclusive rights to develop diagnostic products.
The agreement marks Auriga's third major product acquisition or exclusive license in less than two months.
VSG to have exclusive license for GreenFuel's Emissions-to-Biofuels(TM) proprietary technology in Australia and New Zealand