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Key Takeaways. 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.
An agreement between a tenant and either an individual or a company to license the use of a part of the tenant's leased premises for a fee. This Standard Document provides a license agreement to share office space for a short term by paying a monthly fee.
License Agreement: A contract that sets forth the terms and conditions under which a Licensor grants a License to a Licensee in exchange for compensation (usually a negotiated fee).