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Le Li Lo

Legal entity

And individual, proprietorship, partnership, corporation, association, or other organization that has, in the eyes of the law, the capacity to make a contract or an agreement, and the abilities to assume an obligation and to discharge indebtedness. A legal entity…

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Letter of Intent (LOI)

A letter of intent is a collection of key points of an agreement between two parties that are negotiating a contract; in this respect a letter of intent is simply the agreement signed prior to the final contract. Without a…

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Lex mercatoria

Internationally accepted general trade practices. The principles of lex mercatoria primarily juxtaposed freedom of contract and alienability of property, along with an aversion to legal technicalities and choices of going beyond the realm of law. The branch of law largely…

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License agreements

A contractual arrangement in which the licensor´s patents, trademarks, service marks, copyrights or know-how may be sold or otherwise made available to a licensee for compensation negotiated in advance between the parties. Such compensation may consist of a lump sum…

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Licensee

A person to whom a license has been granted to use someone else’s specified thing such usually of intellectual property (trademark, patents, know how). The person with the ownership rights which are voluntarily compromised by extending the license, is called a licensor….

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