A Licensor is an individual or organization that grants permission to another party, known as the licensee, to use specific rights or properties. This can include intellectual property such as patents, trademarks, or copyrights. The licensor typically retains ownership of the property while allowing the licensee to utilize it under agreed-upon terms. Licensors often enter into licensing agreements that outline the scope of use, duration, and any financial arrangements, such as royalties. This arrangement benefits both parties: the licensor can earn revenue from their property, while the licensee gains access to valuable resources without needing to create them from scratch.