Exclusive License

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Exclusive license allows a licensor to share intellectual property with a licensee for a specific period of time that usually binds the licensor to not share the property with anyone else. Normally, the license is unique to a certain area or market which gives the licensee the ability to profit off of the license on intellectual property such as a copyright like a book or a trademark like an apple.

[Last updated in July of 2021 by the Wex Definitions Team]