Do you mind if I ask why you are asking? Does it relate to a situation you have or perhaps an assignment question?Tom
Thanks for your question.
There are no statutory safeguards for licences, they can be revoked at any time subject to what the licence actually contains. Check to see what they agreement actually says about termination to see your rights in this regard.
If operating a business from business premises for any significant time it is hugely more preferable for you to have a lease which governs your occupation of the property, rights to renewal and termination early than the fixed term.
The Courts have to power to look beyond what an agreement states it is. If it states it is a licence but actually has all the characteristics of a lease then they can declare it as a lease (Street v Mountford is the leading case on this). The most important of these is exclusive possession (ie. a right to exclude all others, including the landlord).
If you wish to secure your right to long term occupancy you should attempt to negotiate terms for a lease and then have this drawn up by solicitors.
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