Asked by: Henrietta Hastenteufenbusiness and finance sales
What does it mean to license technology?
Last Updated: 21st June, 2020
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Accordingly, what is licensing in information technology?
Agreement whereby an owner of a technologicalintellectual property (the licensor) allows another party (thelicensee) to use, modify, and/or resell that property in exchangefor a compensation (consideration).
Also, how does IP licensing work? A licensing agreement is a partnership between anintellectual property rights owner (licensor) and anotherwho is authorized to use such rights (licensee) in exchange for anagreed payment (fee or royalty). Technology LicenseAgreement.
Hereof, what is a technology agreement?
technology agreement. n. (Industrial Relations& HR Terms) a framework designed by trade unions fornegotiating changes in employment caused by the introduction of newtechnology.
What is a paid up license?
Means a license under which all royalties havebeen paid in advance, i.e., there are no running royalties;alternately, a paid-up (or pre-paid)license can be for a certain fixed number of units or periodof time, usually at a substantial discount to the usual runningroyalty.