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License legal definition of license
License legal definition of license - Trends
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Contractual agreement between two business entities in which the licensor permits the licensee to use a brand name, patent, or other proprietary right, in exchange for a fee or royalty. Licensing enables the licensor to profit from the skills, expansion capital, or other capacity of the licensee. Licensing is often used by manufacturers to enter foreign markets in which they have no expertise. The creators of popular comic strip and movie characters often license the use of a character's likeness to manufacturers of lunch boxes, clothing, toys, and other children's products. The popularity or familiarity of the ...
a business analysis is to consider the legal aspects, then the business aspects. In considering the legal aspects, begin with the following premise that applies to both options. If you put someone into business (or allow them to use your business name/mark) this transaction will normally be a regulated activity, subject to substantial penalties for noncompliance. This guiding legal principle, coupled with the business aspects of selling a franchise vs. a license (discussed below) will answer most franchise vs. license questions. Advice from a competent franchise attorney is indispensable. ... Read More
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LICENSE LEGAL DEFINITION OF LICENSE
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