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Simple English definitions for legal terms

audit rights

Read a random definition: emptrix

A quick definition of audit rights:

Audit Rights: When someone gives permission to use their idea or creation, they have the right to check the other person's records to make sure they are being honest. This is called audit rights. It's like a teacher checking your homework to make sure you did it right.

A more thorough explanation:

Definition: Audit rights refer to the right of the licensor to inspect the licensee's books and records in an intellectual-property license agreement.

Example: In a software licensing agreement, the licensor may have audit rights to ensure that the licensee is not using more licenses than they have purchased. The licensor can request to inspect the licensee's records to verify compliance with the agreement.

Explanation: The example illustrates how audit rights work in a specific type of intellectual-property license agreement. The licensor has the right to verify that the licensee is following the terms of the agreement by inspecting their records. This helps to ensure that both parties are fulfilling their obligations and prevents any potential disputes.

audit response | audit trail

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

JumpySubsequentDolphin

11:16

I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah

TheAdoptedOne

11:16

no i think there should be a Law School combine with all new drills except there is still the 40 yard dash

TheAdoptedOne

11:16

and a sub 4.5 gets you into any t14

TheAdoptedOne

11:16

LSAT can be one of the drills

letsseehowitgoesnow

11:17

so washu only called one person

ClockworkBlue

11:17

So all the D1 athletes will get into a T-14. What else is new?

BytchiestBunny

11:17

@TheAdoptedOne: that is called "Dean Poker Night" lol

TheAdoptedOne

11:18

@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+

TheAdoptedOne

11:18

this is like the schizophrenic posts JJK tik tok be putting out

TheAdoptedOne

11:19

powerscaling Law School deans up next

limpweeny

11:19

Election Day election day

TheAdoptedOne

11:19

Write in Dean Z vote

limpweeny

11:20

Saw a guy that wrote in Biden and he said no retirement for you buddy

1a2b3c4d26z

11:20

@ClockworkBlue: god I hope that's true

TheAdoptedOne

11:20

if the country was run the same as Mich Law it would be a better place

ClockworkBlue

11:21

Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."

TheAdoptedOne

11:21

imagine if it was like Berkley applications

1a2b3c4d26z

11:22

Election status: Complete

1a2b3c4d26z

11:22

For months

triplethread

11:23

erection day

TheAdoptedOne

11:23

https://www.reddit.com/r/lawschooladmissions/comments/1gixhib/berkeleys_application_is_snobby_af/

soapy

11:23

Shoutout to Robinhood's election bet not resolving until January

triplethread

11:23

is anyone else like certain that trump will win

ambitiouslizard

11:23

he aint winning

triplethread

11:23

i like being a pessimist

ambitiouslizard

11:24

he lost his re-election, why would he win this one?

1a2b3c4d26z

11:25

I have no idea why people have so much beef w berkeley's app

ClockworkBlue

11:25

I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.

1a2b3c4d26z

11:26

Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on

TheAdoptedOne

11:28

I 100% agree with the self selection, I also am not even close to touching the medians there. However I think the huge PS plus the video and especially the very specific criteria for the why Berkeley essay is pretty crazy

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