The process typically involves negotiation between the parties to determine the terms and scope of the license. Key aspects often include:
1. Scope of License: Defines what specific IP is being shared and how it can be used. 2. Duration: Specifies the length of time the license is valid. 3. Royalties and Fees: Outlines any payments or royalties that need to be exchanged. 4. Exclusivity: Determines whether the license is exclusive or non-exclusive.