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License agreement

An agreement in which the holder of intellectual property rights (the licensor) allows a third party (the licensee) to use a licensed product, typically in exchange for a licensing fee or royalty. License agreements usually cover the following topics:
term of use;

• rights to modify and combine with other products;
• prohibitions;
• rights to transfer and sublicense;
• acceptance, testing, and training procedures;
• rights to source code;
• warranties;
• limitations on the licensor’s liability;
• support and maintenance services;
• nondisclosure of confidential information;
• indemnity for infringement;
• termination of the contract