Topic of this thesis was License agreement. License is a right that empowers its carrier to use objects of right for intellectual property. IP rights that usually get licensed are author rights, patents, watermarks and industrial design. There are numerous advantages of handling and owning licenses, and some of them are risk sharing, stream of income, enhanced go to market strategy, lowering expenses, time saving, access to profession knowledge, achieving competitive advantage, cooperation. Although there are numerous advantages, handling and owning license doesn’t have to be always a best solution in business development. For example, if the business has the ability to commercialize its intellectual property quite often it can maintain its goals better if they keep it for themselves. Mutual relationship between giver and receiver of the license is regulated with the license agreement. This agreement is obliging the giver to concede the receiver in its full form or partially a right to make use for the invention, knowledge, experience, watermark, sample or model, and receiver is obliged to pay the certain amount of money for that. License agreement has to be done in a written form. License can be inclusive, exclusive, limited or unlimited. Unless the agreement says so, the receiver of the exclusive license can sublicense to other people. Receiver of the inclusive license can not sublicense to a third party without consent of the original license owner. License agreement can be one-sided, two-sided or multisided when are we talking about mutually technology cooperation, exchanging of the licenses or mutual research and development. License agreement made specifically to a certain timeline stops being valid after its deadline, and its not necessary to terminate it. However, license agreement without a certain timeline stops when both sides terminate each other, respecting the notice period.