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Negotiation Law: Intellectual Property Rights and Licensing Agreements
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What is the primary purpose of a licensing agreement in the context of intellectual property rights?
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A
To grant permission to use intellectual property rights
💡 Explanation:
A licensing agreement is a legal contract that grants permission to one party (the licensee) to use the intellectual property rights of another party (the licensor). This allows the licensee to use the licensor's intellectual property for specific purposes, such as manufacturing, distribution, or sale.