license

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license

Authorization by a governmental or other regulatory agency that allows a person, group of persons, or enterprise to carry out a particular activity; the certificate itself. See Revoked license, Unrestricted license.

li·cense

, licence (līsĕns)
Legal permission given to professional to practice in specific fields according to rules and regulations of a jurisdiction.
[L. licentia, fr. licet, it is permitted]
References in periodicals archive ?
For perspective on this ruling, this article addresses the Chapter 11 impact on companies as both licensors and licensees of intellectual property.
It should also state whether the licensor has a right to audit the books of the licensee and what procedures will take place if the licensor finds a discrepancy in the books and how often the licensee must render statements of account to the artist and how detailed those statements must be.
The licensee must monitor the case and move promptly to exercise its rights when the licensor debtor seeks rejection to prevent the licensor from using bankruptcy to rescind the right to use IP.
This is a significant and welcome change in attitude by two leading licensors. Whether or not the shift at IV was driven by public policy, it does represent economic common sense.
Other courts, relying on the language of comment (d), concluded that trademark licensors could be held liable as ostensible manufacturers, even in the absence of evidence of participation in the chain of distribution, where the licensor's name appeared on the product and there was no prominent disclosure of the actual manufacturer.
Although most licenses are held to be 'executory contracts' by bankruptcy courts, the license should specifically provide that the licensor's failure to perform obligations constitutes a material breach of the license excusing performance by the licensee.
Through the Mediabox-DAM application Licensors and Agents are able to grant their Licensees controlled access to the high-resolution artwork, logos, images, documents and other digital materials according to the contractual rights the Licensee has acquired.
Sole rights--only one licensee and the licensor and permitted to produce and sell the product.
A licensor of trademarks should control size, color, placement (including with other marks), texture and all other standards of use in its sole discretion.
In the following section, we discuss monopoly rents and licensing-related costs, explain some factors that influence a licensor's exclusivity decision, and develop our propositions.
The licensor (or any third party authorised by the licensor) is able to enter and remain in that part of the premises occupied by the licensee and could change the area of the premises occupied by the licensee at any time;

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