What is Licensing?

Licensing refers to the legal permission granted by a licensor to a licensee to use a product, service, technology, or intellectual property under specific terms and conditions. Here's a breakdown of the key elements of licensing:

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#1 Licensor

The entity or individual who owns the rights to the product, service, or intellectual property being licensed out. The licensor grants permission to the licensee to use their property.

#2 Licensee

The entity or individual who is granted permission to use the product, service, or intellectual property owned by the licensor. The licensee typically agrees to abide by certain terms and conditions set forth in the licensing agreement.

#3 Licensing Agreement

A legal contract between the licensor and the licensee outlining the terms and conditions under which the licensee can use the licensed property. This agreement may include details such as the scope of use, duration of the license, fees or royalties, restrictions, warranties, and other pertinent terms.

#4 Intellectual Property

This refers to creations of the mind, such as inventions, designs, symbols, names, and images used in commerce. Intellectual property can be protected by patents, copyrights, trademarks, or trade secrets.

#5 Fees or Royalties

The licensor may charge the licensee a one-time fee, periodic payments, or royalties based on factors such as usage, sales, or profits generated from the licensed property.

When you license an Aster Brands precast product, you join a vast network of manufacturers across the globe. You gain access to superior engineering resources, marketing support, and production guidance. Aster Brands is there for you every step of the way as you build your precast business.