A license is a contract between the owner (the "Licensor") of a patent, trademark, and/or copyright and a person or company (the "Licensee") that wants to: make and sell products under the patent rights, use the trademark in connection with the marketing and sale of certain products or to reproduce a copyrighted work under the copyright. Patent, trademark, and copyrights are rights created under federal law. In contrast, a license agreement is governed by state law. The terms and conditions of a license agreement vary widely from contract to contract depending upon many factors, including whether the property right being licensed is a patent, trademark or a copyright.