An Exclusive License Means That for the Specified Duration of the License,the

question 7

True/False

An exclusive license means that for the specified duration of the license,the licensor will not grant to any other person rights in the same information.

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Definitions:

Substantially Performed

A term indicating that the major and necessary tasks of a contract have been completed, even if minor details may have been omitted.

Commercial Impracticability

A legal defense that excuses the performance of a contract due to unforeseen and uncontrollable circumstances that make fulfillment excessively burdensome or impossible.

Financially Unsound Contract

A contract deemed as high-risk due to the financial instability or inability of one or more parties to fulfill their obligations.

Relieved from Performance

A legal condition where a party is released from fulfilling their obligations under a contract due to unforeseen circumstances.