perpetual license
Definition
A perpetual license gives you the right to use something, usually software or intellectual property, forever after a one-time payment. You own the right to keep using that specific version of the product indefinitely, even if the company stops selling it or goes out of business.
Example
You pay $500 once for accounting software and can use that version for the next 20 years without paying again, as opposed to a subscription where you pay monthly and lose access if you stop paying.
Watch Out
Perpetual licenses usually cover only that specific version, so you may still need to pay extra fees for updates, upgrades, or technical support down the road.
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This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.