Kindly explain difference between License Fees & Rent.
Santosh V. Thakur (Sr. Accountant) (187 Points)
19 April 2017Kindly explain difference between License Fees & Rent.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160322 Points)
Replied 20 April 2017
The crucial differences between a lease agreement and a license agreement is:: under license agreements, the legal ownership and the possession of the property remain with the licensor/owner. Under a lease agreement, the tenant generally has exclusive possession with respect to the property. In other words, a license does not create any interest in the premises in favor of the licensee. The rent in lease agreement is synonymous to license fees under Leave & License agreement.
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