I. Definition of a license agreement
A license agreement is a written contract by which one party
that owns certain Intellectual Property (IP) gives another party
permission to use that IP. The two parties involved in this
agreement are a licensor and a licensee.
The licensor is the party that permits another party to use
IP.
The licensee is the party that gains such permission.
By the types of IP being licensed, the license agreement can be
divided into:
- trademark license agreement;
- patent license agreement;
- copyright license agreement.
The legal definition of the Trademark License Agreement is
provided in Art. 28 of the Law on trademarks and geographical
indications dated 12 June 1998 No. 504-IQ
(hereinafter "The Law on
Trademarks") and in Art. 1.8 of the Decree of the
Cabinet Ministers of the Republic of Azerbaijan on "Approval
of the procedure on the registration of the agreements on
trademarks" dated 15 September 2009 under No. 139
