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Legal distinction between selling and licensing?
What is the lega;l distinction between selling a product and licensing it?
Hi,
Here are the legal definitions for both:
License: “A legal agreement granting permission to exercise a specified right or rights to a work, often encompassed in an invoice, or the act of granting same.”
Sell: “An agreement by which one of the contracting parties, called the seller, gives a thing and passes the title to it, in exchange for a certain price in current money, to the other party, who is called the buyer or purchaser, who, on his part, agrees to pay such price.”
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