Things every client should understand about intellectual property agreements

License agreements in general

The essence of a license agreement is this: it is an agreement whereby one party (the Licensor) grants permission to another party (the Licensee) to use or to practice one or more of the Licensor’s intellectual property rights, subject to certain terms and conditions. Thus, key provisions in any license agreement always include those answering the following questions: (a) what permissions are granted; (b) for what price; and (c) pursuant to what terms, conditions, restrictions and exclusions?