Definition of Shrinkwrap license:
Type of passive contract which the buyer of a software is deemed to accept by the fact of opening its shrinkwrapped package. This license usually includes terms that (1) prohibit making unauthorized copies, (2) prohibit any modification, (3) prohibit resale, (4) limit use to one or a specified number of computers, (5) limit publishers liability. The legal implications of a shrinkwrap license are still controversial and far from being standardized. See also point and click agreement and software license.
Meaning of Shrinkwrap license & Shrinkwrap license Definition