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Licence

In international trade a revocable privilege granted by a government for activities that would otherwise be illegal, such as an import licence.

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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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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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LIFO Liner in free out

In international trade, referring to a freight charge which includes the cost of loading in the port of departure but does not include unloading costs in the port of destination.

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