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An agreement for the licensing of intellectual property (IP) by a parent, IP holding company, or other company to an affiliated company within the same corporate group.
How to draft a contract between two parties: A step-by-step checklist Check out the parties. ... Come to an agreement on the terms. ... Specify the length of the contract. ... Spell out the consequences. ... Determine how you would resolve any disputes. ... Think about confidentiality. ... Check the contract's legality. ... Open it up to negotiation.
A license contract, also known as a license agreement or licensing agreement, is a type of contract where one party (the licensor) grants another party (the licensee) the right to produce, use, sell, and/or display the licensor's protected material.
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).