GRANT BACK CLAUSE
\ɡɹˈant bˈak klˈɔːz], \ɡɹˈant bˈak klˈɔːz], \ɡ_ɹ_ˈa_n_t b_ˈa_k k_l_ˈɔː_z]\
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A requirement by a licensing entity that any improvement made during the licensing period to whatever was licensed to the licensee, must be told and given to the licensor when the license expires or per the licensing agreement. Typically, this relates to technology of some kind and includes related know-how acquired.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.