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 ?
According to the report, 414,332 people registered their driving licenses in nine different categories this year till September.
The department is currently accepting applications to participate in its lottery for the licenses.
Replying to a question in the senate, the minister said that the federal government was strictly implementing its policy of not issuing arms licenses to have control on misuse of arms and discourage this practice in public.
The following businesses have been issued new business licenses according to city records.
Records include license activity in Whatcom County.
Our effort to break a 30-year monopoly in supplying driver's licenses is about to bear fruit, Transportation Secretary Joseph Abaya said.
Then you have some states that require licenses and some that don't.
The availability of retail liquor licenses in Utah is limited by a statutory quota system.
The statement said that the SBCA has cancelled licenses of the architects including Syed Tehseen Ahmed license no: AL-01-369, Raza Abbas license no: AL-01-655, Iftikhar Hussain Siddiqi license no: AL-01-402, Syed Ali Dawood license no: AL-01-438, Shoaib A.
Discover the properties owned by licensors and represented by agents, and which ones manufacturers have licenses for--and what products they make.
CryptoLicensing uses the latest military strength, state-of-the-art cryptographic technology to generate secure and unbreakable licenses to ensure that your software and intellectual property is protected.
Sharjah witnessed 7.1 per cent growth in the number of new and renewed licenses issued in 2010, as compared to the figures for 2009, according to a report issued by the Sharjah Economic Development Department (SEDD).