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A licensing agreement is a contract between a licensor and licensee in which the licensee gains access to the licensor's intellectual property. The party providing the intellectual property is called the licensor while the party receiving the intellectual property is called the licensee.
The steps for making a license agreement are as follows: Download a template for a licensing agreement. Choose your role as the licensor or licensee. Define the license(s) in the agreement. Decide whether the license is exclusive or not. Settle the matter of fees and payment schedule. Add a renewal date and rules.
These are some common types of licensing agreements: Trademark license - outlines how you may use a trademark Patent license - outlines your right to sell, use, make distribute and export a product that is patented Copyright license - outlines your right to reproduce and sell copyrighted assets.
An example of a licensing agreement is a contract between the copyright holders of software and another company, allowing the latter to use the computer software for their daily business operations.
Begin your license agreement by defining who all parties are. From there, add information about license grants, charges, licensee's obligations, intellectual property rights, limitation of liability, confidentiality, governing law, waivers, etc. End the template with an agreement form to sign.
For example, Apple and Microsoft have had cross-licensing agreements since the 1990s. The agreements between the two tech forces have covered design patents, technical software features and more, and at one point covered any patent filed by either company.
Some advantages of software licensing include the 3 Ps of licensing: portability, piracy, and profitability.
A technology licensing agreement is a contract that outlines the terms and conditions of a licensing agreement between a technology company and a party purchasing the use, reselling rights, or rights to change a particular software product or intellectual property of the technology company.