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The party that is receiving intellectual property rights from another party is called the licensee.The party that is providing intellectual property rights to another party is called the licensor.A royalty fee is an ongoing fee paid for the right of use of the licensor’s intellectual property.
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In exchange for the licensor’s intellectual property, the licensee typically plays an upfront fee and/or a royalty fee to the licensor. In a typical licensing agreement, the licensor agrees to provide the licensee with intellectual property rights such as the licensor’s technology, brand name, or product creation know-how. In a licensing agreement, the licensee typically pays an upfront fee in conjunction with a royalty fee.The party providing the intellectual property is called the licensor while the party receiving the intellectual property is called the licensee.
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A licensing agreement is a contract between a licensor and licensee in which the licensee gains access to the licensor’s intellectual property.