Acme Corporation
A license (American English) or licence (British English) is an official permission or permit to do, use, or own something (as well as the document of that permission or permit).
A license can be granted by a party to another party as an element of an agreement between those parties. A shorthand definition of a license is “an authorization to use licensed material.”
In particular, a license may be issued by authorities, to allow an activity that would otherwise be forbidden. It may require paying a fee or proving a capability. The requirement may also serve to keep the authorities informed on a type of activity, and to give them the opportunity to set conditions and limitations.