Business Setup & Legaladvanced
Licensing Agreement
Definition
A legal contract that lets one party use another party intellectual property, such as a brand, design or software, under agreed terms.
Why it matters
A licensing agreement can create income from your creations or let you legally use someone else work, while setting clear rules so nobody is caught out.
Example
You sign a licensing agreement allowing a retailer to print your artwork on mugs in exchange for a royalty on each sale.
Related terms
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