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What is a transferable Licence?

Transferable Licenses means the Licenses that may be transferred or assigned by Seller to Buyer without the payment of consideration or the assumption of additional liability by Seller.

What is a non transferable license to use?

Nontransferable License means the rights given exclusively to Licensee hereby that may not be transferred by Licensee to any other individuals or entities. Core means a group of modules making up a standard solution which Licensor defines as a base application.

What is a license agreement for intellectual property rights?

Entering into a license agreement enables an IP owner to authorize another party to exercise some of the IP owners rights in the IP while retaining ownership and control of the IP. License agreements vary based on many factors, including the types of IP being licensed and the context in which the license arises.

What is a revocable contract?

In its basic form, a revocable agreement is an offer that an individual or entity can withdraw before the other party accepts it. An irrevocable agreement is one that the offering party cannot withdraw. This type of agreement is standard in business contracts and trusts. The terms are binding once accepted.

What is the difference between licensee and licensor IP?

Licensing involves the owner of the IP (the licensor) giving someone else (the licensee) permission to use but not own their IP in exchange for payment.

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