The Benefits of Getting a License Agreement for Your Business The Benefits of Getting a License Agreement | Page 2

A license agreement is the legal authority granted to a business to use the practices or processes of another business with their full consent . Basically , if you are the holder of the agreement , you are giving someone the permission to do what they wish within the terms of what you have negotiated . You may also be allowing them to use confidential information or techniques , which could result in prosperity and recognition for your business but could be a potential threat to your progress . Let ’ s break down the pros and cons of getting a license agreement .