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A licensing agreement is a legal contract between two parties, known as the licensor and the licensee. In a typical licensing agreement, the licensor grants the licensee the right to produce and sell goods, apply a brand name or trademark, or use patented technology owned by the licensor.

Generally, there are three types of licensing agreements: exclusive, sole, or non-exclusive. In an exclusive license, the licensee is only the party that can use the licensed intellectual property.

In addition to detailing all parties involved, licensing agreements need to specify in granular detail how licensed parties may use properties, including the following parameters: The geographical regions within which the property may be utilized. The time period parties are allotted to use the property.

A simple license agreement is the most basic form of a contract granting one party the right to use another party's assets for commercial use. Licensing agreements usually transfer rights of usage for intellectual property, including trademarks, copyrights, patents, and even trade secrets.

A licensing agreement is a legal contract between two parties, known as the licensor and the licensee. In a typical licensing agreement, the licensor grants the licensee the right to produce and sell goods, apply a brand name or trademark, or use patented technology owned by the licensor.

Typically, the parties involved will sign a contract or agreement. The agreement will lay out the royalty fees and payment amounts. For example, there may be a fixed fee, or the fee may be a variable percentage of gross sales. Royalties for specific products (like a book) might be based on the number of units sold.

Some advantages of software licensing include the 3 Ps of licensing: portability, piracy, and profitability.