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A licensing agreement allows one party (the licensee) to use and/or earn revenue from the property of the owner (the licensor). Licensing agreements generate revenues, called royalties, earned by a company for allowing its copyrighted or patented material to be used by another company.
What type of activities does a license agreement restrict? You do not have the right to copy, loan, borrow, rent, or in any way distribute programs or apps.
The contract stipulates the type of agreement, the length of the relationship, payments and royalties that are due and when, and the extent to which licensing is allowed. Licensing also allows both parties to retain control over certain facets of the deal, including exclusivity and how a product or service is marketed.
Exclusive license allows a licensor to share intellectual property with a licensee for a specific period of time that usually binds the licensor to not share the property with anyone else.
This agreement comes in the form of an Access Licence which legally grants the owner undertaking the work, access onto the neighbouring owner's land for a specified period of time subject to a number of considered conditions.