Draft License Agreement is a document created to outline the terms of the license agreement between two parties, such as the licensor and licensee. The agreement outlines the types of products or services that can be used by the licensee, and any associated fees that must be paid. Additionally, it outlines the rights and obligations of both parties in order to ensure fairness and legal protection. The draft license agreement should be reviewed carefully for accuracy, then signed and dated by both parties to become official.