exclusive license

Definition from Nolo’s Plain-English Law Dictionary

A written contract in which the owner of a patent, copyright, trademark, or trade secret authorizes, for a limited time, someone (the licensee) to exclusively exercise one or more of the rights. For example, the copyright owner of a comic book may exclusively license the video game rights to a game company. Once a license terminates, the owner regains the rights. Compare: assignment

Definition provided by Nolo’s Plain-English Law Dictionary.