Licensor Legal Meaning and Definition

Here is a simplified definition of the legal term Licensor.

Licensor (noun):

A licensor is an individual or legal entity that has the power to give permission or grant rights to another party, typically known as the licensee, to use or perform certain restricted or controlled activities, often in exchange for specified terms, commonly a fee or royalty. These activities may include use of property, exploitation of a patent, software, or trademark among others.