Armin Hohenadler

Under an outright license agreement, the licensor may, under its terms and in accordance with customary law, terminate the contract after authorization and without justification, unless it is linked to an interest or made irrevocable by contract. An interest-related licence may not be revoked by the licensor without liability and potential damage having been received. In the event that a licence is of interest, the licensor must give the licensee a reasonable period of time to remove that interest from the property before termination. Since a licence does not confer a right of ownership on the licensee, the licence is terminated in the event of sale of the property and cannot be imposed on the new owners of the property. In addition, the death of the licensee or licensor terminates the contract. The implementation of end-user licensing agreements is sometimes questioned. One of the many types of business relationships encountered in the modern world of transactions is the concept of a license agreement in which one party grants another party the right to use, in a commercial context, a right to use a trade name, method, product or other asset for mutually beneficial purposes. The natural or legal person granting the right is called a „licensor“. The natural or legal person who obtains the right is called a „licensee“.

This article describes the basic terms of a license agreement that has been concluded. Before entering into a license agreement in the United States, competent legal and tax advice is required. A licence shall be issued by a party of another Party under an agreement between those Parties. .