Licence Agreement Definition English
A license (American English) or a license (British English) [1] is an official authorization or authorization to do, use or possess something (as well as the document of such authorization or authorization). [1] An example of a licensing agreement in the restaurant sector would be that a McDonald`s franchisee has entered into a licensing agreement with McDonald`s Corporation allowing it to use the company`s branded and marketing materials. And toy makers regularly sign licensing agreements with movie studios that give them the legal power to produce action characters based on popular similarities of movie characters. Those entering into a licensing agreement should consult a lawyer, as there are complexities that are difficult to understand for those who do not have a deep understanding of intellectual property rights. In the United Kingdom, prisoners who serve a certain sentence (a firm time in prison) are released « under licence » before the completion of their full sentence. [11] The license is the prisoner`s agreement to maintain certain conditions, such as. B regular reporting to a probation officer and to a single authorized address, in exchange for early release. If they violate the conditions of the licence, they can be « recalled » (taken back to prison). [12] [13] Again, an abbreviated definition of licence is « a promise by the licensor not to sue the licensee ». In other words, without a license, any use or exploitation of intellectual property by third parties would amount to reproduction or infringement. Such reproduction would be inappropriate and could be stopped using the legal system if the IP owner so wished. [3] The bargaining power of both parties to a licensing agreement often depends on the nature of the product. For example, a film studio that conceded the image of a popular superhero to an action character manufacturer could have considerable bargaining power in this negotiation, as the manufacturer will likely benefit from such a deal.
The film studio therefore has the leverage to relocate its activities elsewhere if the manufacturer is cold on its feet. A licence shall be issued by a party of another Party under an agreement between those Parties. In the case of a licence issued by a government, the licence is obtained by application. In the case of a private party, this is done through a specific agreement, usually in writing (e.g.B. a rental agreement or another contract). .