How is Duly Licensed defined in a legal contract?
- Duly Licensed means possessing a current and valid license as required by law. Seen in 9 SEC filings
- Duly Licensed means having authorization to operate under any state or federal law, while upholding the appropriate license and certification as required. Seen in 2 SEC filings
- Duly Licensed means that an entity or individual has been properly and legally licensed by the correct authority to practice their profession within a particular state. Seen in 2 SEC filings
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Duly Licensed means holding a valid license as required by [governing law].
Relevant Contract Types
Relevant Circumstances
- When hiring professional services or experts.
- When engaging vendors to provide products or services.
- When granting or receiving a license for software, technology, or IP.
- When hiring freelancers in licensed professions.
Relevant Sectors
Genie Definition 2
- Duly Licensed means authorized and maintaining proper licensure and certifications as per [laws and regulations].
Relevant Contract Types
Relevant Circumstances
- When engaging manufacturers or distributors.
- When entering into a franchise agreement.
- When dealing with institutions or entities that require specific authorizations and certifications as per laws and regulations.
Relevant Sectors
Genie Definition 3
- Duly Licensed means appropriately and legally licensed by the relevant authority to practice a certain profession.
Relevant Contract Types
Relevant Circumstances
- When engaging consultants or advisors.
- When engaging an independent contractor in licensed professions.
Relevant Sectors
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