A license can preserve ownership while granting use rights, but the signed agreement determines what happens. Some transactions assign assets or grant broad, lasting rights.
Look beyond the title
Read the grant, definitions, derivative-work provisions, sublicensing, exclusivity and survival terms. A document called a partnership can still create extensive rights.
Check future flexibility
Ask what you can still do with the same records, whether new records are included and whether a future company buyer can acquire the business without breaching the agreement.
What to record before deciding
Keep the written scope, official provider source, unresolved questions and the person responsible for each check. Treat a marketing claim as a claim until it is reflected in the agreement. A directory entry does not approve the transaction or establish your rights to share the records.