What is a license?
A license is a legally binding contract between the licensor and licensee. This contract allows the licensee to utilize the licensor’s intellectual property, which is typically a copyrighted work but can also include patented inventions and trademarks. In South Carolina, intellectual property is protected and regulated by the South Carolina Uniform Trade Secrets Act (SCUTSA) and South Carolina Code of Laws Section 36-3-103. A licensor is the owner of the intellectual property. They secure the license agreement to give the licensee the permission to use their intellectual property. The licensee is the party receiving the permission to use the intellectual property and is required to abide by the terms of the agreement. A license allows the licensee to use the intellectual property for a specific period of time and a specific use. This protects the licensor from the possibility of their intellectual property being misused or abused. Additionally, in most cases, the licensor receives payment for the use of their intellectual property. The licensee must adhere to the terms of the license agreement or risk having the license revoked. This means that the licensee can no longer use the intellectual property and must give back any physical copies of the work, such as books or software. Additionally, breaching the license agreement may result in legal action being taken against the licensee. In South Carolina, Intellectual Property Law and licensing are governed by the SCUTSA and South Carolina Code of Laws Section 36-3-103. It is important for anyone dealing with intellectual property and/or entering into a license agreement to be familiar with these laws.
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