IP Licensing in IP management refers to the process of granting permission to another party to use intellectual property, such as trademarks, patents, or designs, under agreed terms and conditions.
An IP license is an agreement between the owner of a specific IP right and a third party, in which the IP owner (licensor) provides the third party (licensee) with the right to use (part of) its IP rights for a limited time, for certain products, in an often restricted geographic area.
