Licensing Terminology

Licensing crosses over into almost every industry and it is important for every executive to understand the terms of licensing.


The process of legally authorizing a third party the use of one’s Intellectual Property.

Intellectual Property

The name, likeness, logo, graphic, design, slogan, signature, character, or a combination of several of these elements in conjunction with a product, trademark or idea.



The period of time the License Agreement shall be in effect.

License Agreement

The contract between Licensor and Licensee granting legal permission to use the Intellectual Property.


Owner of the Intellectual Property.


The authorized countries covered by the License Agreement.


The fee the Licensor assesses Licensee for the right to use the Intellectual Property.


The firm and/or person that contracts with Licensor to use the Intellectual Property.

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