Innovation Management
A licensing agreement is a legal contract between two parties, where one party (the licensor) grants the other party (the licensee) the rights to use, produce, or sell a product, service, or intellectual property under specific conditions. This arrangement allows the licensee to benefit from the licensor's intellectual property while providing a revenue stream for the licensor, often in the form of royalties. Licensing agreements can cover various types of intellectual property, including patents, trademarks, copyrights, and trade secrets.
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