« Back to Glossary Index

A License allows a party to use the intellectual property of another party for commercial gain over a specified period of time. Licenses are not grants of property, meaning that generally the recipient of the license does not own the intellectual property which is licensed. There are some instances where the licensed intellectual property can become the permanent property of the license recipient. Those circumstances will likely be set forth in a license agreement between the parties.

« Back to Glossary Index