License agreement

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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.
References in periodicals archive ?
Medivir AB (STO:MVIRB), Stockholm, Sweden, has signed two new pharmaceutical license agreements and an extension of the ongoing research collaboration in hepatitis C (HCV) with Tibotec Pharmaceuticals Ltd.
While such a general legal difference exists, the fact is, telecommunications license agreements fail many, if not all, of the tests that differentiate leases from license agreements.
These license agreements explicitly deny many rights defined by the copyright laws and have introduced new issues of user identity, product capabilities, and restrictions on use into the selection decision.