What Is Agreement Of Licence

Duration: Many licenses are valid for a certain period of time. This protects the licensor if the value of the licence increases or market conditions change. It also preserves applicability by ensuring that no license extends beyond the term of the contract. Licensing agreements are often used for the commercialization of technologies. License agreements limit the conditions under which one party may use another party`s property. Although the properties in question may include a variety of elements, including real estate and personal property, licensing agreements are most often used for intellectual property such as patents and trademarks, as well as copyrights for written materials and visual arts. Licensor must accept the license, which can be proven in writing, or licensor must agree to exercise the license.