There are various kinds of legal and official documents that are produced and used in an organization. Some of them are legally binding by the involved parties and the rest may be restricted to a specific company.
What is a license?
A license is a legal document that gives the concerned individual or company the permission to use, produce or perform some task or product or service. It is mostly issued by some authorizing body.
What is a License Contract?
The license contract is a document that is issued when an activity involves the utilization of a trademark, a creative or inventive work or production of some product or service. This is a legal agreement that is necessary to pursue the specific activity. One party gives the license to the other party in return for some remuneration. Thus it is a mutually beneficial relationship that is enforced by law. Certain terms and conditions are also added to the license contract template to make the rights and responsibilities of both the parties secure.
A license contract template may contain the following information and data:
- Name and detail information of the license owner
- Name and details of the license requester
- Details of the product or service under discussion
- Terms and conditions of the contract
- Validity and date of the contract
In many cases, a license contract is for a specific time period after which it will expire and stop working. In other cases, it may be a perpetual agreement.
Format: MS Word