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Le Li Lo
Lic Lim Liq

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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Licensor

A person or a company with exclusive legal rights over a thing that gives, sells or otherwise surrenders to another a limited right to use that thing. The person benefiting from the grant is called a licensee and the legal…

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Limitada (Ltda.)

In Brazil and Portugal, designation for a private limited liability corporation with limited liability to shareholders.

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Limitation period

A maximum period set by statute within which a legal action can be brought or a right enforced. A statute may prohibit, for example, any individual or legal entity from bringing an action for breach of contract more than one…

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