A license is permission granted to allow another party to act under all or some of the owner’s rights, usually under a written license agreement.
License agreements describe the rights and responsibilities related to the use and exploitation of intellectual property.
UD license agreements usually stipulate that the licensee must diligently seek to bring the University’s intellectual property into commercial use for the public good. In exchange, the agreement also seeks to provide a reasonable return to UD.
A typical license agreement includes the following elements: