A right or permission granted by the owner of a property (tangible or intangible) to engage in some business or occupation or engage in some transaction, which would be unlawful without such right, or permission. A business arrangement in which the manufacturer of a product (or a firm with proprietary rights over certain technology, trademarks, etc. ) grants permission to some other group or individual to manufacture that product (or make use of that proprietary material) in return for specified royalties or other payment. Many convention center agreements are written as license agreements.