In 1958, J.N. Behrman2 published a monograph on the licensing experience of US firms. To our knowledge, this is the first empirical study on contractual agreements as a channel for international transfers of technology. In this study, the experience of 207 US firms was analysed and some 4,000 licensing agreements were investigated, about two-thirds of which were between independent firms and one third between affiliated companies. Valuable information can be found on the geographical distribution of the agreements, their coverage and structural characteristics, the types of payments involved in both cases, and the typical royalty rate.