a license or contract granted to a third party by a licensee for specified rights or uses of a product, brand name, logo, etc.
verb (used with object), sublicensed, sublicensing.
to grant a sublicense for.

sub- + license Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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The right to sublicense is normally included in exclusive licenses and not included in non-exclusive licenses.
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