GRANT BACK Meaning and
Definition
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The term "grant back" refers to a legal or contractual agreement where ownership or exclusive rights are transferred from one party to another, with the express condition that these rights will be returned to the original owner or another specified party at a later time or under certain circumstances.
In such a context, the party initially granting the rights is commonly referred to as the "grantor," while the recipient is known as the "grantee." The grant back provision is a key component of many licensing, patent, or intellectual property agreements, providing flexibility and protection for both parties involved.
Essentially, the grant back clause in an agreement allows the grantor to secure potential future benefits by requiring the grantee to return the rights, licenses, or control of certain assets, innovations, or intellectual property developed during the course of their collaboration or partnership. This provision can range from a simple agreement to return the rights upon request or can specify certain conditions or triggers that activate the grant back, such as termination of the agreement, expiration of a specified period, or the occurrence of particular events.
The grant back arrangement aims to protect the grantor's interests, ensuring they have the ability to regain control or utilize the granted rights at a later stage. At the same time, the grantee often benefits from access to valuable resources, technology, or intellectual property during the collaboration, enabling the development of new innovations or products.
Common Misspellings for GRANT BACK
- frant back
- vrant back
- brant back
- hrant back
- yrant back
- trant back
- geant back
- gdant back
- gfant back
- gtant back
- g5ant back
- g4ant back
- grznt back
- grsnt back
- grwnt back
- grqnt back
- grabt back
- gramt back
- grajt back
- graht back
Etymology of GRANT BACK
The term "grant" originated from the Old French word "graunter", which means to allow or consent. It ultimately evolved from the Latin word "grandire", meaning to make large or increase. The word "back", in this context, refers to returning or reciprocating. Therefore, "grant back" is a phrase derived from the combination of these two words, signifying the action of giving or returning something that was previously granted.
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