licence

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licence

  1. the assignment by one firm to another (exclusive licence) or a number of firms (non-exclusive licence) of the right to use its technology or distribution network or to produce its product. Similarly, the grant by the government to an authority (for example an airport) or firm of the rights to supply a particular product. Licences are contractual arrangements which are entered into usually for a specified period of time, with the licensee paying a lump sum payment and/or a royalty or fee for the rights assigned. For an innovating firm with limited financial resources of its own, licensing offers a means of obtaining extensive national and international sales potential (see FOREIGN MARKET SERVICING STRATEGY) and a quick return on its risk capital. The danger is that the firm, by providing actual and potential (long run) competitors with its know-how etc., will lose control of core technology and products to rival producers. To safeguard this and also to provide greater technological collaboration between firms working both in complementary and diverse areas, a cross licensing arrangement may be established involving the reciprocal licensing of each other's products or technology.
  2. a document issued by a licensing authority as a means of ensuring that persons or premises are ‘fit and proper’ for the activities in which they are engaged, for example, an investment adviser or premises for the consumption of alcoholic drink.
  3. a document which shows proof of legal ownership (or entitlement) or compliance with a statutory or private requirement in which a fee is payable, for example a television licence issued by the government, or a private fishing licence. See EXPORT LICENCE.

licence

  1. the grant by one FIRM to another firm (exclusive licence) or others (nonexclusive licence) of the right(s) to manufacture its product, or to use its technology or distribution facilities. Similarly, the grant by the government to an authority (for example, a gas corporation) or firm of the rights to supply a particular good or provide a particular service. The granting of a licence in these cases is a CONTRACTUAL arrangement that is entered into, usually for a specified period of time, with the licensee usually paying a ROYALTY or FEE for the rights assigned. See EXTERNAL GROWTH, STRATEGIC ALLIANCE, FOREIGN MARKETING SERVICING STRATEGY.
  2. a document that shows proof of legal ownership (or entitlement) and compliance with a statutory or private requirement for a payment thereon, for example, a television licence issued by the government or a private fishing licence. Such licences are issued primarily for the purpose of raising revenue.
  3. a document issued as a means of ensuring that premises or persons are ‘fit and proper’ for the purposes in which they are engaged, for example, a licensed casino, a licensed dealer in securities.
References in periodicals archive ?
The legislation defines new categories of licences; sets out rules and guidelines for licence applications, licensee obligations, and the construction of communications networks; provides for interconnection between licensees and facilities leasing by communications network services licensees; provides for a radio frequency plan, a numbering plan to enable number portability in 2005, and carrier pre-selection; specifies type approval and technical standards for communications equipment; and, provides for the Universal Service Agency and Universal Service Fund to continue to bring services to historically disadvantaged people and remote locations.
On the eight exploration licences which are the subject of a National Instrument 43-101 report filed on SEDAR (the "HRU Licences"), the Company is presently carrying out preliminary scoping studies to determine the order of priority for drilling targets.
Since implementing a new driver licence issuance program in 1992, Russia has issued more than 16 million drivers licences at 1,000 locations around the country.
Conxion Corporation, the reliability and performance leader in managed hosting, and Globetrotter Software, a division of Macrovision Corporation (Nasdaq:MVSN), a world leader in digital rights management technologies, announced today that they have signed an alliance agreement to provide a solution which helps software publishers utilise GTlicensing(TM) to manage the delivery of FLEXlm(R) licences to their customers.
The Konkola West Licence is adjacent to Caledonia's Nama and Ngosa licences to the west, to the north-east is the Konkola Mining Licence area owned by Zambian Copper Investments Ltd (a 50.