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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
If a licensee is involved in the preparation of the content of a third-party post, the "entanglement" theory will attribute the post to the licensee, which will be responsible for its content.
In some cases, the newspaper accounts of the shooting strongly suggest that the licensee was in the right--and this is probably why there was no later coverage of a conviction.
To retain its rights, the licensee must continue to make all 'royalty' payments for the duration of the agreement, and waives its right of offset and its right to seek payment from the debtor for any post-bankruptcy filing claims.
While the licensee is responsible for marketing the brand locally, they will depend on the franchisor to advise them on social media, grand opening marketing and will need Intranet-based digital marketing collateral to localize with the approval of the franchisor.
At the end of each contract quarter, the licensee shall provide the Kardashians with a quarterly accounting statement that includes all information necessary to calculate the earned royalties on wholesale sales;
The license should stipulate whether the licensee has the right to change the artwork or combine it with other artworks and, if so, whether the licensee can do so without the approval of the licensor; specify whether the name of the artist will appear on the artwork when it is reproduced; and state whether a copyright notice in the name of the artist will accompany the artwork when it is reproduced.
The CBB is a firm proponent in transparency of all its licensees and believes that the enhanced facility provided on its website will be a valuable tool for the public.
“We are confident Nu Flow Italy will guide these two well-respected companies to be successful Nu Flow Licensees.”
If a licensee can establish that it engaged in responsible business practices as defined by the statute, liability cannot be imposed even if the licensee was negligent or reckless.
Licensee and/or any successor licensee, as appropriate, will conduct annual audits of the Station's public file on or about the anniversary date of the Effective Date of the Consent Decree.
Under the proposal, a person who is 18 years of age or older is permitted to participate as long as he or she is a registered player in Internet gaming activities and is associated with playing an Internet game offered by a licensee in accordance with the regulations of the board.