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This Patent License Agreement (the "Agreement") is between Microsoft Corporation ("Microsoft"), a Washington corporation, having a place of business at One Microsoft Way, Redmond, Washington 98052, and Immersion Corporation ("Immersion"), a California corporation, having a place of business at 2158 Paragon Drive, San Jose, California 95131, each a "party" and collectively the "parties". [...]

NOW, THEREFORE, in consideration of the payments and promises made hereunder, the sufficiency of which the parties acknowledge, the parties agree as follows:

1. DEFINITIONS (contracts.onecle.com)

Licensors use license agreements to grant their licensees the right to use certain intellectual property, including software, trademarks, service marks, inventions, and patents. Besides the property being licensed and the royalty rates, license agreements can also include representations, warranties, termination provisions, terms of indemnification and dispute resolution clauses. (contracts.onecle.com)