Define: Duly Licensed

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

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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.

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Genie Definition 1

• Duly Licensed means holding a valid license as required by [governing law].

Relevant Contract Types

• Professional Services Agreement
• Vendor Agreement
• Licensing Agreement
• Freelance Contract

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

• Technology
• Healthcare
• Consulting
• Legal

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Genie Definition 2

• Duly Licensed means authorized and maintaining proper licensure and certifications as per [laws and regulations].

Relevant Contract Types

• Manufacturing Agreement
• Distribution Agreement
• Franchise Agreement

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

• Manufacturing
• Supply Chain
• Retail/ Franchising

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Genie Definition 3

• Duly Licensed means appropriately and legally licensed by the relevant authority to practice a certain profession.

Relevant Contract Types

• Consulting Agreement
• Independent Contractor Agreement

Relevant Circumstances

• When engaging consultants or advisors.
• When engaging an independent contractor in licensed professions.

Relevant Sectors

• Professional Services
• Healthcare
• Education

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