what is a licensing agreement
DEFINITION of 'Licensing Agreement'. This term refers to a written agreement entered into by the contractual owner of a property or activity giving permission to another to use that property or engage in an activity in relation to that property.The property involved in a licensing agreement can be real, personal or intellectual.icensing agreements can be an intangible but valuable asset in industries such as technology, biotechnology and publishing. These agreements are a large part of intellectual property law, particularly in terms of enforcement of copyrights, trademarks and patents.