EXCLUSIVE LICENSE Meaning and
Definition
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An exclusive license refers to a legal agreement granting an individual or entity the sole right to use, exploit, or market a particular intellectual property, product, or service. In this arrangement, the licensor grants exclusive rights to the licensee, essentially providing them with a monopoly in a specific geographical region and for a designated period.
Under an exclusive license, the licensor relinquishes their own ability to grant licenses to others and cannot personally use or exploit the intellectual property during the license duration. The license terms outline the exact scope of exclusivity, including the geographical territory, time period, and any restrictions or limitations on the licensee's rights.
The exclusive licensee gains an advantageous position for the commercialization of the intellectual property, enabling them to prevent others from using, producing, or selling the specified product or service. This exclusive control often incentivizes the licensee to invest in marketing, manufacturing, or research and development.
Exclusive licenses are commonly used for patents, trademarks, copyrights, or technology transfers. They are frequently employed in industries such as pharmaceuticals, software development, entertainment, and franchising. These licenses are usually subject to negotiation and typically involve payment of royalties or specific fee structures to the licensor.
In summary, an exclusive license confers singular rights to a licensee, permitting them to use, exploit, or market a specific intellectual property, product, or service while preventing others from doing the same, within defined parameters.
Common Misspellings for EXCLUSIVE LICENSE
- wxclusive license
- sxclusive license
- dxclusive license
- rxclusive license
- 4xclusive license
- 3xclusive license
- ezclusive license
- ecclusive license
- edclusive license
- esclusive license
- exxlusive license
- exvlusive license
- exflusive license
- exdlusive license
- exckusive license
- excpusive license
- excousive license
- exclysive license
- exclhsive license
- excljsive license
Etymology of EXCLUSIVE LICENSE
The word "exclusive" comes from the Latin word "exclusivus", derived from "excludere", which means "to shut out" or "to prevent from entering". "Exclusive" denotes something that is limited to or restricted to a particular person, group, or entity.
The term "license" has its roots in the Latin word "licentia", which means "permission" or "authority". In English, it refers to legal permission granted by the owner of intellectual property rights to someone else to use, utilize, or exploit that property in a particular way.
When combined, an "exclusive license" refers to the legal permission or authority given to a specific individual or entity to use, produce, distribute, or otherwise exploit a particular intellectual property (such as a patent, trademark, or copyrighted work) to the exclusion of others.
Similar spelling word for EXCLUSIVE LICENSE
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