This agreement is used when the “Licensor” occupies industrial space and they wish to rent a portion of it to another called the “Licensee.”
A licence is different to a Sublease agreement because the factory (or part of the factory) is shared space. That is, the licensee does not have exclusive use of the area or portion of the area. For example – there may be common areas like a kitchen or bathrooms. Need to know more? This article explains the difference between a licence and a lease.
This document sets out the terms of the industrial space rental, placing clear boundaries on the relationship. It ensures that each party understands their obligations and covers the following issues:
Putting a written contract in place saves you from being in the uncomfortable position of arguing over who said what, which can often happen when you rely on verbal agreements.
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