A license is a contract by which the owner of an intellectual property right (a patent, a trademark, etc.) grants a third party (the licensee) the right to use the patent, to manufacture or sell the product that is the subject of the invention, to have the product manufactured or sold, to affix the trademark to its products, and more generally to exploit the intellectual property right according to the wishes of its owner and in agreement with the licensee partner.
The license is granted over all or part of the territory protected by the industrial property right.