Intellectual property rights are deemed to be exclusive rights. If a patent has been granted or if a trademark has been matured to registration, the patent or the trademark can be exclusively used by its owner and he acquires the exclusive right to use the patent, to apply the trademark on the goods protected under the trademark, and copyright owners shall have a right of reproduction and distribution of a protected work.
However, often the owner cannot use his rights in all territories for which protection has been granted. The owner is entitled to grant permission to the licensee for the use of its intellectual property within the limits set by the provisions of the contract. The licensee is authorized to use such rights in return for payment. Also the territory where the licensee can exploit the IP should be clearly defined.
We are dealing with the specifics of licensing various types of intellectual property rights, such as patents and utility models, copyrighted works, and software and database works as well as trademarks and designs.