Intellectual property license grants usually contain a long list of adjectives, including some that are, in our experience, frequently misunderstood. "Revocable" and "irrevocable" are two examples. The parties to a license often include or omit these words without understanding how doing so may affect the license and the overall contract. Because the law is somewhat murky on the subject, we offer this practice note to explain and offer some recommendations on how to use these terms.
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RegisterThe terms “revocable” and “irrevocable” in license agreements: tips and pitfalls
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USA
February 21 2013
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