Posted in Finance, Accounting and Economics Terms, Total Reads: 395
Licensee is a person to whom a license is given or awarded. A licensee is an individual who is on the property of someone else, despite the fact that the property is closed to the general public, because the property owner has allowed the licensee to come in.
In every situation whenever a license is granted from, there is licensee and a licensor. One party is a licensor another is licensee. One who grants the license is the licensor. Another party who gets the license is the licensee.
If a shop license is given to a shop keeper. Then shopkeeper is the licensee while the government becomes the licensor. Similarly there can be license between private parties also.
A fast chain restaurant may enter into contract with the makers of the popular movie to display its characters at its restaurant.