Abstract
A license is an agreement which conveys specified patent, copyright, trademark, or know-how rights from one party to another. The main terms and conditions of a license generally include diligence provisions, financial obligations, and a conveyance of the rights exclusively or nonexclusively. The considerations in valuing a technology are discussed. Licensing is usually a business arrangement for the mutual benefit of the parties and should be part of an overall commercialization and business strategy.
Keywords: Licensing; Set of reasons; Overall perspective; License agreement; Diligence; Financial terms; Exclusivity; Nonexclusivity; Right of first refusal; Option agreements; Patents; Copyrights; Trademarks; Tangible property; Material transfer