A Licensor Is a Party Who Is Granted Limited Rights

question 60

True/False

A licensor is a party who is granted limited rights in intellectual property or informational rights owned by another person or company.

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Definitions:

Qualified Indorsement

An endorsement on a negotiable instrument that limits the liability of the indorser or specifies conditions for the payment.

Indorser

An entity or person who signs the back of a negotiable instrument, such as a check or promissory note, thereby transferring ownership or guaranteeing payment to another party.

Instrument

A tool or device used for a specific purpose, often referring to musical instruments or legal documents.

Maker

Typically refers to the individual or entity that creates or executes a financial instrument, like a check or promissory note, thereby committing to the terms outlined therein.