A broker wishes to be issued several broker licenses for business reasons. He may Hold multiple licenses in this situation.
As a component of an agreement between certain parties, a license is given by one party (the licensor) to another party (the licensee). When a government license is required, an application must be submitted in order to get one.
It is by a special agreement, typically in writing, in the case of a private party (such as a lease or other contract). The simplest definition is "A license is a promise not to sue," because a license typically allows the licensed party to either engage in an activity that is illegal and punishable without the license or it permits the licensed party to take a step that would infringe on the rights of the licensing party.
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