Definition of Exclusive license:
License limited to a specific scope or field, such as context, market, territory, or time. Exclusive does not mean one and only license granted, but only that the licensor agrees not to grant other licenses that have the same rights within the scope or field covered by the exclusive license. It may refer to a geographical area, technological application, method of production, or production of a specific product. Exclusivity may or may not include competition from other licensees or the licensor itself, granting of sublicenses, performance requirements to be met by the licensee, and/or a time limitation. The licensor, in fact, can issue any number of licenses with different rights in the same scope, or licenses with same rights in different scopes. Under copyright law, the licensee of an exclusive license is the owner of a particular right out of several rights constituting a copyright. He or she has the legal power to take court action against anyone who infringes the licensed rights within his or her scope or field.
Meaning of Exclusive license & Exclusive license Definition