A license is an agreement that establishes a customer’s rights related to the reporting entities intellectual property, and the obligation to provide those rights.
Licenses can come in multiple different forms and maybe limited in duration or perpetual. Licenses may convey exclusive rights, but not in all instances. In addition, consideration for licenses maybe fixed or variable, and maybe paid up-front or over time.
ASC 606-10-55-54 thru 58
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