Term License

A license for a fixed period of time, usually based on a fully paid up royalty. Term licenses can be very risky for a licensee, if renewal terms are not pre-agreed and the licensee is not absolutely certain that it will cease commercial activity using the IP right by the time the term is expired, since if the licensee does need to renew, it will usually have a very poor bargaining position vis-à-vis the licensor.

Term posted by Origin on in Uncategorized.