A right or permission granted by the owner of a property (tangible or intangible) to engage in some business or occupation or engage in some transaction, which would be unlawful without such right, or permission. A business arrangement in which the manufacturer of a product (or a firm with proprietary rights over certain technology, trademarks, etc.) grants permission to some other group or individual to manufacture that product (or make use of that proprietary material) in return for specified royalties or other payment. Many convention center agreements are written as license agreements.
A software contract that specifies acceptable usage and normally includes clauses regarding the right to copy, distribute and modify; the number of overall or concurrent users able to use the system; restrictions to specific sites or hardware; whether the software is owned by the buyer or granted access through the payment of annual maintenance fees, and other terms.
contract giving someone the legal right to use a patent or trademark