License Agreements

A license agreement is a legal contract that allows one party to use, produce, or sell someone else's intellectual property, such as patents, trademarks, or copyrighted works. In this agreement, the owner grants specific rights to the licensee, often in exchange for payment or royalties. The terms outline how the property can be used, any restrictions, and the duration of the agreement. These contracts help protect the rights of the original creator while enabling others to utilize their work legally, fostering innovation and collaboration within various industries.